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BRIEF-SunOpta posts Q4 adjusted loss per share $0.08

Published 2017-03-01, 08:29 a/m
© Reuters. BRIEF-SunOpta posts Q4 adjusted loss per share $0.08
SOY
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March 1 (Reuters) - SunOpta Inc SOY.TO

* SunOpta announces fourth quarter fiscal 2016 financial results

* Q4 adjusted loss per share $0.08

* Q4 loss per share $0.41 from continuing operations

* Q4 revenue $297.5 million versus i/b/e/s view $335 million

* Q4 earnings per share view $0.05 -- Thomson Reuters I/B/E/S

* SunOpta inc- "Q4 results were below our expectations"

* SunOpta inc says on February 6, 2017, company announced appointment of David Colo as president and chief executive officer

* SunOpta - "Q4 results were below our expectations," driven by exit of non-core business lines, impairment charges, sales softness in beverage and fruit

* SunOpta Inc - currently targeting implementation of $30 million of productivity driven annualized EBITDA enhancements

* SunOpta Inc says during 2017, company anticipates incurring non-structural third-party consulting support, severance, and recruiting costs

* SunOpta - targeting implementation of $30 million of productivity driven annualized EBITDA enhancements to be implemented over coming 12 to 18 months

* Says "taking aggressive action to improve our operating performance and deliver improved results in 2017 and beyond"

* SunOpta Inc - currently targeting implementation of $20 million of working capital efficiencies to be implemented over coming 12 to 18 months

* SunOpta Inc - targeting implementation of $20 million of working capital efficiencies to be implemented over coming 12 to 18 months

* SunOpta -in near-term, sees benefits from value creation plan offset by structural investments in areas of quality, sales, marketing, operations, engineering resources Source text for Eikon: ID:nBw1ZQyZ4a Further company coverage: SOY.TO

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