Acasti Pharma Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine-Months Ended November 30, 2014
For the nine months, Revenue was $92,000 against $301,000 for the same period a year ago. Adjusted LBITDA was $6,244,000 against $4,607,000 a year ago. Net earnings were $656,000 against net loss of $9,059,000 a year ago. Basic and diluted earnings per share was $0.01 against net loss per share of $0.12 a year ago. Net cash used in operating activities was $4,575,276 against $2,081,207 a year ago. Acquisition of equipment was $34,650. Acquisition of intangible assets was $41,303 against $90,964 a year ago. The decrease in the cash flows from operating activities is mainly attributable to the higher loss from operating activities after adjustments for non-cash items, primarily offset by the changes in non-cash working capital items, primarily by a large decrease in trade and other receivables of $616 and a large increase in payable to parent corporation. Results from operating activities was $2,964,530 against $3,313,908 a year ago. Net cash used in operating activities was $4,575,276 against $2,081,207 a year ago. Acquisition of equipment was $34,650. Acquisition of intangible assets was $41,303 against $90,964 a year ago.