ENTREC Corporation Reports Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Revenue Guidance for the Year 2018
For the year, the company reported revenue of $148.7 million compared to $114.1 million for the last year. Adjusted EBITDA was $11.6 million or $0.11 per share compared to $5.0 million or $0.05 per share for the last year. Adjusted net loss was $13.7 million or $0.12 per share compared to $24.3 million or $0.22 per share for the last year. Net loss was $14.3 million or $0.13 per diluted share compared to $23.9 million or $0.22 per diluted share for the last year. Cash used in operating activities was $4.8 million compared to cash provided by operating activities $0.2 million for the last year. Funds from operations was $3.9 million or $0.04 per share compared to funds outflow from operations $2.2 million or $0.02 per share for the last year.
The company expected revenue from its operations in the United States will continue to grow in fiscal 2018.