Organigram, a Canadian cannabis producer that trades on a major U.S. exchange, reported net revenues of 24.8 million Canadian dollars for the fiscal third quarter ended May 31, up from CA$3.44 million in the same period last year.
Net loss for the quarter for the New Brunswick-based company was CA$10.2 million, compared with net income of CA$2.82 million for the same period in 2018.
The revenue total was lower than expected based on timing of shipments into Quebec, sluggish sales in British Columbia and a slower reorder rate in Ontario, according to Corey Hamill, managing director at Toronto-based Paradigm Capital.
The results were also impacted by a temporary decline in yield per plant, Organigram said.
The company expects higher yields and increased efficiencies and economies of scale to decrease the cost of cultivation in Q4 fiscal 2019 and Q1 fiscal 2020.
Organigram, which trades on the Nasdaq under the ticker symbol OGI, initially dipped after results were released before market open but recovered into positive territory.
加拿大大麻生产商 Organigram 在美国一家主要交易所进行交易，该公司报告截至5月31日的第三季度净收入为2480万加元，高于去年同期的344万加元。
总部位于多伦多的 Paradigm Capital 的董事总经理科利?哈米尔( Corey Hamill )表示，基于进入魁北克的发货时间、英属哥伦比亚的销售低迷以及安大略省的重新定货速度放缓，收入总额低于预期。
Organigram 在纳斯达克交易，其股票代码为 OGI ，在市场开盘前发布业绩，但恢复到正区间后，该公司股价开始下跌。