RE:sales are horrid no profit Hey Bonehead, can you point out in this report where it says what you're claiming
For fiscal full-year 2019, the company expects to report year-over-year growth in net revenue of approximately 547 per cent to about $80.4-million, as well as positive adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) for the year. Net revenue (after excise taxes) for the fourth quarter of 2019 is expected to be approximately $16.3-million, which reflects about $20.0-million of shipments in the quarter and about $3.7-million in provisions for product returns and pricing adjustments. Lower fourth quarter 2019 net revenue (compared with third quarter net revenue of approximately $24.8-million) and about $1.6-million of packaging and inventory adjustments (charged to cost of sales) in the quarter are expected to contribute to negative adjusted EBITDA for the fourth quarter of 2019.
For the fourth quarter of 2019, the company also expects to report sequential improvement in the cost of cultivation per gram and overall harvested volume, as its yield per plant returned to normalized levels following a temporary decline in the third quarter of fiscal 2019. As first discussed in its third quarter earnings report, the cannabinoid content in Organigram's harvested flower and sweet leaf has continued to reach all-time highs, and the company has identified what it views as an optimal balance of high yields and high cannabinoid content.
"While Q4 2019 did not meet our overall expectations, we have not only emerged as one of the national leaders in the industry, with significant growth expected in net revenue and strong market share, we expect to report positive adjusted EBITDA for the year," said Greg Engel, chief executive officer. "And we remain relentlessly focused on running a profitable business which earns attractive returns on investment for our shareholders over the near and long term. We are encouraged by Ontario's recent announcement to expand the retail network and believe this should be an important catalyst to drive further growth for us and the industry as a whole."