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Triyards in the red for Q2 with US$6.25m loss
TRIYARDS Holdings on Friday announced a net loss of US$6.25 million for the second quarter ended Feb 28, 2017, against a net profit of US$5.28 million a year ago.
This is mostly due to an US$8.4 million allowance made for doubtful receivables from related entities of Ezra Holdings, which either face a potential going concern issue or have filed for Chapter 11 of the US Bankruptcy Code.
Revenue for the quarter went up marginally to US$70.64 million.
Loss per share for the six months ended Feb 28 was 1.29 US cents, against earnings per share of 3.53 US cents a year before.
No dividend was declared for the quarter.