ENTREC Corporation reported earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported revenue of $38.8 million compared to $30.0 million for the last year. Adjusted EBITDA was $3.8 million or $0.03 per share compared to $0.34 million or $0.00 per share for the last year. Adjusted net loss was $2.7 million or $0.02 per share compared to $8.7 million or $0.08 per share for the last year. Net loss was $2.9 million or $0.03 per diluted share compared to $10.8 million or $0.10 per diluted share for the last year. Cash used in operating activities was $0.6 million compared to $2.1 million for the last year. Funds from operations was $1.6 million or $0.01 per share compared to funds outflow from operations $1.1 million or $0.01 per share for the last year.

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.