Aphria (TSXV:APH) released its financial results for the three and nine months ended February 29. The company reported a 32 percent increase in revenue over the previous quarter.
As quoted in the press release:
Revenue for the three months ended February 29, 2016 was $2,679,898, representing a 32% increase over the previous quarter’s revenue of $2,026,975. Revenue for the six months ended February 29, 2016 was $6,657,613.
Adjusted gross profit for the third quarter was $1,883,225, with an adjusted gross margin of 73.4%, generated from both retail and wholesale shipments of medical marijuana. Adjusted gross profit for the year-to-date was $3,871,034, with an adjusted gross margin of 69.2%.
Net income for the three months ended February 29, 2016 was $3,720 or $0.00 per share versus a loss of $431,098 or $0.01 in the previous quarter and $3,103,111 or $0.06 per share in the same period of the prior year. The net loss for the six months ended February 29, 2016 was $904,203 or $0.02 per share versus $6,062,064 or $0.14 in the same period of the prior year.
EBITDA for the third quarter was $423,350, compared to an EBITDA loss of $631,581 in the third quarter of the prior year. The EBITDA for the year-to-date was $52,203, compared to an EBITDA loss of $2,747,356 in the same period of the prior year.
“Remaining focused on our strategic plan, the third quarter provides evidence that the Aphria team is delivering or exceeding on all of our operational metrics,” says Vic Neufeld, CEO. “The team is committed to the sustainability of operational profitability and operational free cash flow. As the market and our business continues to grow, we will continue to make long-term capital investments as required.”