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BRIEF-Sunopta Q4 Adjusted Loss Per Share $0.11

Published 2019-02-26, 07:45 a/m
© Reuters.  BRIEF-Sunopta Q4 Adjusted Loss Per Share $0.11
SOY
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Feb 26 (Reuters) - Sunopta Inc SOY.TO :

* SUNOPTA ANNOUNCES FOURTH QUARTER FISCAL 2018 FINANCIAL RESULTS AND ADDITIONAL DETAILS ON SALE OF SPECIALTY AND ORGANIC SOY AND CORN BUSINESS

* Q4 LOSS PER SHARE $1.13

* Q4 REVENUE $320.5 MILLION VERSUS REFINITIV IBES ESTIMATE OF $292.9 MILLION

* Q4 EARNINGS PER SHARE ESTIMATE $-0.07 -- REFINITIV IBES DATA

* Q4 ADJUSTED LOSS PER SHARE $0.11

* IN 2018, SOY AND CORN BUSINESS CONTRIBUTED $104.4 MILLION OF EXTERNAL REVENUE

* Q4 PROFITABILITY WAS PRESSURED BY GROWTH INVESTMENTS AND COSTS ASSOCIATED WITH LAUNCH OF NEW SKUS ACROSS CONSUMER PRODUCTS SEGMENT.

* DURING Q4 OF 2018, COMPANY RECOGNIZED A NON-CASH GOODWILL IMPAIRMENT CHARGE OF $81.2 MILLION

* EXPECTS TO RATIONALIZE AN ADDITIONAL $3.0 MILLION OF SG&A EXPENSES FROM SOY AND CORN BUSINESS SALE

* NET PROCEEDS FROM SALE WILL INITIALLY BE USED TO LOWER DRAWN AMOUNT ON COMPANY'S GLOBAL CREDIT FACILITY

* SUNOPTA - CO, PIPELINE ENTERED INTO MULTI-YEAR SUPPLY AGREEMENT FOR CERTAIN ORGANIC, NON-GMO INGREDIENTS USED IN SUNOPTA'S BEVERAGE AND SNACKS PORTFOLIO

* IN 2019, COMPANY IS TARGETING $10 MILLION OF IN-YEAR PRODUCTIVITY-DRIVEN MARGIN ENHANCEMENT

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