EDMONTON – Aurora Cannabis Inc. says it incurred a $11.9 million net loss in its most recent quarter, but uncovered millions more in savings from an ongoing restructuring.<\/p>\n
The Edmonton-based cannabis company says its loss in the first quarter of its fiscal year compared with $101.4 million in the same quarter last year.<\/p>\n
The company says the loss amounted to six cents per share for the period ended Sept. 30,a drop from a loss of 85 cents per share in the first quarter of the last year.<\/p>\n
Aurora's net revenue for the quarter amounted to $60.1 million, down from $67.6 million in the same quarter the year prior.<\/p>\n
Aurora was expected to report a loss of $49.6 million per diluted share on $60.6 million of revenues, according to financial data firm Refinitiv.<\/p>\n
Aurora spent the quarter working to streamline its operations and says it has identified cash savings of $60 million to $80 million, but only executed on $33 million in annualized run-rate cost savings to date.<\/p>\n
This report by The Canadian Press was first published Nov. 9, 2021.<\/p>\n
Companies in this story: (TSX:ACB)<\/p>\n
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EDMONTON – Aurora Cannabis Inc. says it incurred a $11.9 million net loss in its most recent quarter, but uncovered millions more in savings from an ongoing restructuring. The Edmonton-based cannabis company says its loss in the first quarter of its fiscal year compared with $101.4 million in the same quarter last year. The company […]<\/p>\n","protected":false},"author":362,"featured_media":1411,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"guid":"","source":"The Canadian Press","byline":"","published":"2021-11-09T07:03:54","updated":"2021-11-09T20:00:00","_infotelid":"IT86987","_prepressid":"86987","_multisite_post_sync":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,391,381],"tags":[],"region":[309,310,311,312],"class_list":["post-220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in420","category-nonit","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/infonews.ca\/in420\/news\/220\/aurora-reports-11-9-million-loss-in-q1-but-says-restructuring-still-underway\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Aurora reports $11.9 million loss in Q1, but says restructuring still underway","url":"http:\/\/infonews.ca\/in420\/news\/220\/aurora-reports-11-9-million-loss-in-q1-but-says-restructuring-still-underway\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/infonews.ca\/in420\/news\/220\/aurora-reports-11-9-million-loss-in-q1-but-says-restructuring-still-underway\/"},"thumbnailUrl":"https:\/\/infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/MediaItemID86987-6667.jpg?w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/MediaItemID86987-6667.jpg"},"articleSection":"iN420","author":[{"@type":"Person","name":"Howard Alexander"}],"creator":["Howard Alexander"],"publisher":{"@type":"Organization","name":"iN420","logo":""},"keywords":[],"dateCreated":"2021-11-09T15:03:54Z","datePublished":"2021-11-09T15:03:54Z","dateModified":"2021-11-10T04:00:00Z"},"rendered":"