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Home / Business / Crono's shares slip the 2% premarket after earnings

Crono's shares slip the 2% premarket after earnings



Cronos Group Inc.

CRON, + 6.76%

said Tuesday it had sales of $ 5.6 million in the fourth quarter, up from $ 1.6 million in the fourth quarter of 2017. In the fourth quarter, Cronos fluctuated At loss, net loss of C $ 11.8 million, or 6 cents per share, against a profit of $ 667,000, representing a penny a share, in the quarter of the previous quarter. Canadian cannabis company said gross profit before real value adjustments reached $ 2.5 million, up from $ 400 million a year earlier. The increase was driven by an increase in kilograms sold, the company said without giving a figure. Operating expenses rose to $ 1

2.4 million in the quarter from $ 2.9 million a year ago, driven by R&D costs, talent acquisitions, and professional consulting costs for strategic initiatives, including the $ 2.4 billion investment from Altria Inc.

MO, + 1.13%

For the whole year, it said it had a loss of C $ 19.2 million or 11 cents per share, after a profit of $ 1.8 million or 1 per cent per share, in the previous period. With only two estimates collected by FactSet, there is no reliable consensus for the quarter or year. Stocks fell 2% in premar trade, but increased 175% in the last 12 months, while S & P 500

SPX, -0.08%

has received 5%.

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