Loop Industries, Inc. Reports Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended November 30, 2018
January 10, 2019 at 02:45 am IST
Share
Loop Industries, Inc. reported unaudited consolidated earnings results for third quarter and nine months ended November 30, 2018. For the quarter, the company’s net loss was USD 2,913,761 against USD 6,703,653 a year ago. Basic and diluted loss per share was USD 0.09 against USD 0.20 a year ago.
For the nine months, the company’s net loss was USD 9,981,702 against USD 10,402,707 a year ago. Basic and diluted loss per share was USD 0.30 against USD 0.32 a year ago.
Loop Industries, Inc. is a Canada-based clean technology company. The Company owns patented and proprietary technology that depolymerizes noand low-value waste polyethylene terephthalate (PET) plastic and polyester fiber, including plastic bottles and packaging, carpets and textiles of any color, transparency or condition and ocean plastics that have been degraded by the sun and salt, to its base building blocks (monomers). The monomers are filtered, purified and polymerized to create virgin-quality Loop branded PET resin suitable for use in food-grade packaging and polyester fiber, thus enabling its customers to meet their sustainability objectives. Its Infinite Loop provides an end-to-end industrial solution to supply the global demand for Loop PET resin made from recycled content. Loop PET plastic and polyester fiber can be recycled infinitely. The Company reduces plastic waste and recovering waste plastic.
LOOP INDUSTRIES, INC. 
