Alert Sent 2022-03-21 07:58:44 AM ET
Quarterhill Reports Q4 Revenue of $51.2 Million Missing Forecast; Comments on WiLAN Strategic Review
2022-03-21 07:58:00 AM ET (MT Newswires)
07:58 AM EDT, 03/21/2022 (MT Newswires) -- Quarterhill Inc. (
QTRH.TO) earlier Monday reported Q4 2021 revenue of $51.2million, compared with $18.1 million last year, and missing a Capital IQ average forecast of $53.43 million.
The company reported a net loss of $9.5 million, or $(0.08) per share, missing a forecast of net income of $0.03 per share. Quarterhill had recorded a net loss of $10.2 million, or $(0.09) per share for the prior year period.
Last December, Quarterhill announced a strategic review process for the WiLAN business. A special committee of the Board of Directors was formed to oversee the process and Stout Capital, LLC has been selected as the financial advisor to conduct the strategic review.