Smtc Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides EBITDA Guidance for 2018
For the year, the company reported revenue of $139.2 million compared to $167.9 million in 2016. Net loss was $7.8 million compared to a net loss of $0.2 million in 2016. Adjusted LBITDA was $1.5 million compared to adjusted EBITDA $4.7 million in 2016. Net loss per share basic and diluted was $0.47 against $0.01 a year ago. Cash provided by operations was $7.0 million compared to cash used in operations of $3.2 million for the last year. Purchase of property, plant and equipment was $1.5 million compared to $2.2 million for the last year. Operating loss was $6.3 million compared to operating earnings of $0.8 million and loss before income taxes was $7.3 million compared to profit before income taxes $55,000 reported for the last year.
The company expects to achieve double-digit top line growth and adjusted EBITDA incremental growth during 2018.