LEAMINGTON, Ont. — Aphria Inc. reports it had a $98.8 million net loss for its fourth quarter, despite higher revenue from cannabis products.
The Ontario-based company says its loss included a $64-million non-cash asset impairment expense largely related to the COVID-19 at some of its international businesses.
The loss also included non-operating losses related to investments that declined with the trading prices of securities.
The loss amounted to 39 cents per share for the quarter ended May 31, compared with a year-earlier profit of $15.8 million or five cents per share.
Net revenue increased 18 per cent to $152.2 million from $128.6 million.
Analysts had estimated a net loss of four cents per share, according to financial markets data firm Refinitiv.
This report by The Canadian Press was first published July 29, 2020
Companies in this story: (TSX:APHA)
The Canadian Press
