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- 2002-10-07
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Smiths Falls marijuana producer Canopy Growth Corp. said Wednesday its third-quarter revenues jumped 123 per cent year over year to $21.7 million.
That was below the consensus estimate of analysts who had been expecting revenues of $24.2 million according to a Thomson Reuters survey.
The company also recorded a sharper-than-expected drop in earnings as its third-quarter adjusted net loss expanded to $7.1 million compared to a loss of $1.4 million during the same period a year earlier.
The losses reflect Canopy Growth’s rapid expansion and market development activities during the past year as it prepares for the legalization in Canada of recreational pot.
For the moment, Canopy Growth produces medical marijuana, oils and related products for Canada and international markets. Company CEO Bruce Linton said sales growth was strong “across all product formats.” The company also sold $1 million worth of product in Germany during the quarter.
The company said it had 69,000 registered medical marijuana patients in the third quarter, ended Dec. 31. That was up 138 per cent from a year earlier.
The average cost per gram sold during the quarter was $8.30 compared $7.36 a year earlier.
More to come.
查看原文...
That was below the consensus estimate of analysts who had been expecting revenues of $24.2 million according to a Thomson Reuters survey.
The company also recorded a sharper-than-expected drop in earnings as its third-quarter adjusted net loss expanded to $7.1 million compared to a loss of $1.4 million during the same period a year earlier.
The losses reflect Canopy Growth’s rapid expansion and market development activities during the past year as it prepares for the legalization in Canada of recreational pot.
For the moment, Canopy Growth produces medical marijuana, oils and related products for Canada and international markets. Company CEO Bruce Linton said sales growth was strong “across all product formats.” The company also sold $1 million worth of product in Germany during the quarter.
The company said it had 69,000 registered medical marijuana patients in the third quarter, ended Dec. 31. That was up 138 per cent from a year earlier.
The average cost per gram sold during the quarter was $8.30 compared $7.36 a year earlier.
More to come.
查看原文...
