AgJunction Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Year 2018
For the six months, the company's sales were $29,550,000 compared with $27,914,000 a year ago. Operating loss was $3,373,000 compared with income of $91,000 a year ago. Net loss before income taxes was $3,329,000 compared with income of $3,097,000 a year ago. Net loss was $3,329,000 or $0.03 per basic and diluted share compared with net income of $3,078,000 or $0.02 per basic and diluted share a year ago. Cash flows used in operating activities were $2,676,000 compared cash flows from operating activities of $7,882,000 a year ago. Purchase of property, plant and equipment was $357,000 compared with $212,000 a year ago. Adjusted LBITDA was $2,355,000 compared with adjusted EBITDA of $4,072,000 a year ago.
The company expects improved profitability for the remainder of the year 2018.