Annual Report is now available ...Rest of world strategy Knight has successfully completed the acquisition of 99.9% of Grupo Biotoscana and made significant headway in the integration of ten countries in Latin America and 700 employees. With this acquisition, Knight has established a strong panAmerican (ex-US) infrastructure which enables Knight to become a one stop shop and a partner of choice for pharmaceutical companies looking to commercialize their innovative products.
Financial Results • Revenues were $199,519, an increase of $152,058 or 320% over prior year. • Gross margin generated of $81,690 or 41% compared to $26,918 or 57% in prior year. • Adjusted EBITDA1 was $16,837 compared to $2,827 in prior year. • Interest income generated of $14,322 a decrease of $9,220 or 39% over prior year. • Gain from strategic fund investments of $46,733, of which $16,644 was realized. • Adjusted earnings1 of $28,713, an increase of $2,714 or 10% over prior year. • Net income was $31,760 compared to net income of $18,033 in prior year.
Corporate Development • Promoted Arvind Utchanah from VP Finance to CFO. • Accepted the resignation of Nancy Harrison, Sylvie Tendler and Kevin Cameron and appointed Janice Murray and Nicols Sujoy on the Board of Directors. • Disposed the shares of Medison for a cash consideration of $77,000 and recorded a gain of $2,948. • Purchased 5,748,716 common shares and at an average price of $6.40 per share through a NCIB. • Completed the tender offer process for an aggregate purchase price of $170,855 and achieved 99.9% ownership of GBT. • Filed a short form base shelf prospectus in December 2020 which enables Knight to offer for sale and issue up to $360,000 in common shares, subscription receipts and debt securities from time to time during the 25-month period during which the shelf prospectus remains valid.
-------------------
Foundation in place.
Profitable.
Washed their hands of Meir/Cameron (and that soap opera)
Now they need to improve the efficiencies of GBT and the business as a whole - lots of low hanging fruit (if you will).