PV Crystalox Solar plc Announces Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2014; Provides Earnings Guidance for 2014
August 21, 2014 at 02:00 am EDT
PV Crystalox Solar plc announced unaudited consolidated earnings results for the six months ended June 30, 2014. For the period, the company reported revenues of 30,087,000 against 28,305,000 a year ago. Loss before income tax was 5,774,000 against earnings before interest and taxes of 3,951,000 a year ago. Loss before tax was 6,934,000 against earnings before taxes of 1,541,000 a year ago. Loss from continuing operations was 6,937,000 or 4.4 per basic and diluted share against profit from continuing operations of 1,341,000 or 0.3 per basic and diluted share a year ago. Loss attributable to equity owners of the parent was 6,937,000 or 4.4 cents per basic and diluted share against profit attributable to equity owners of the parent of 2,019,000 or 0.5 cents per basic and diluted share a year ago. Net cash flows used in operating activities was 4,713,000 against 6,811,000 a year ago. Payments to acquire property, plant and equipment and intangibles were 136,000 against 51,000 a year ago.
The Board believes that its ongoing strategy will maximise shareholder value and position the Group to take advantage of an eventual return of a more rational business environment.