MONCTON, N.B. – Organigram Holdings Inc. reported a loss of $4 million in its latest quarter compared with a loss of $89.9 million in the same quarter a year earlier.<\/p>\n<\/p>\n
The cannabis producer says the loss amounted to 1.4 cents per diluted share for the quarter ended May 31 compared with a loss of 51.2 cents per diluted share a year earlier when it had fewer shares outstanding.<\/p>\n<\/p>\n
Organigram said the improvement compared with a year ago was due to higher margins and the large one-time impairment charge it took last year.<\/p>\n<\/p>\n
Net revenue in what was the company’s third quarter grew to $20.3 million, up from $18.0 million in the same quarter last year.<\/p>\n<\/p>\n
In its outlook, Organigram said it expects revenue in its fourth quarter to be higher than the third quarter due to stronger forecasted market growth as COVID-19 restrictions lift and as the number of retail stores continues to grow.<\/p>\n<\/p>\n
The company also said it expects to generate a new and incremental revenue stream from the first sales of soft chews.<\/p>\n<\/p>\n
This report by The Canadian Press was first published July 13, 2021.<\/p>\n<\/p>\n
Companies in this story: (TSX:OGI)<\/p>\n<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
MONCTON, N.B. – Organigram Holdings Inc. reported a loss of $4 million in its latest quarter compared with a loss of $89.9 million in the same quarter a year earlier. The cannabis producer says the loss amounted to 1.4 cents per diluted share for the quarter ended May 31 compared with a loss of 51.2 […]<\/p>\n","protected":false},"author":522,"featured_media":1545,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"guid":"","source":"The Canadian Press","byline":"","published":"2021-07-12T23:55:28","updated":"","_infotelid":"CP1058683602","_prepressid":"","_multisite_post_sync":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[383,2,381],"tags":[],"region":[309,310,311,312],"class_list":["post-1546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-in420","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":[],"jetpack_featured_media_url":"https:\/\/staging.infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/20210713090736-60ed979867a99cd5f288a54bjpeg.jpg","post_modified":"2021-07-13T06:55:28","post_modified_gmt":"2021-07-13T13:55:28","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/1546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/users\/522"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/comments?post=1546"}],"version-history":[{"count":2,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/1546\/revisions"}],"predecessor-version":[{"id":3765,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/1546\/revisions\/3765"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media\/1545"}],"wp:attachment":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media?parent=1546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/categories?post=1546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/tags?post=1546"},{"taxonomy":"region","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/region?post=1546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}