China Advanced Construction Materials (CADC) Reports Q1 Loss of $0.50; Guides Q2, FY16 Revenue
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China ACM Reports First Quarter Fiscal Year 2016 Results, Provides Quarterly Guidance for the Second Quarter of Fiscal Year 2016, and Updates the Full Year Guidance for Fiscal Year 2016
November 17, 2015 6:32 AM ESTBEIJING, Nov. 17, 2015 (GLOBE NEWSWIRE) -- China Advanced Construction Materials Group, Inc. (Nasdaq: CADC) ("China ACM" or the "Company"), a provider of ready-mix concrete and related technical services in China, on November 17, 2015, reported financial results for the quarter ended September 30, 2015, i.e., the first quarter of the fiscal year 2016.
First Quarter Fiscal Year 2016 Financial Highlights
Revenue decreased by 36% year over year to $13.5 million; Gross profit of $1.6 million, decreased by $0.3 million further year over year; Net loss of $1.1 million or basic LPS $(0.5); $26.7 million in working capital as of September 30, 2015.... More
