BioAmber Inc. announced unaudited consolidated earnings results for the year and sales results for the fourth quarter and ended December 31, 2017. For the year, the company reported product sales of $14,943,000 against $8,272,000 a year ago. The 81% increase relative to the previous year was driven by an increase in the quantity of bio-succinic acid sold from Sarnia operations and offset by a decrease in the average selling price. Operating loss was $110,013,000 against $29,630,000 a year ago. Loss before income taxes was $102,105,000 against $28,345,000 a year ago. Net loss attributable to the company's shareholders was $98,152,000 against $22,478,000 a year ago. Net cash used in operating activities was $29,789,000 against $37,616,000 a year ago. Acquisition of property and equipment and intangible asset, net of disposals was $811,000 against $668,000 a year ago.

Revenue for the fourth quarter 2017 was $5.4 million compared to $631,000 in fourth quarter of 2016, an increase of 755%. This increase was driven by higher volumes offset by lower average selling price.

During the fourth quarter BioAmber recorded an impairment charge and write-off of $78 million. This charge is a non-cash item.