Toronto-based Cronos Group Inc. (PRMCF) reported financial results for the third quarter ended September 30, 2017. The company delivered $1.3 million in revenue for an increase of 104% quarter-over-quarter and an increase of 962% over last year’s $123,647.
Net income was reported at $1.0 million, which was a nice jump over last year’s loss of $227,607. The diluted earnings per share were one cent, which was also higher than last year’s zero earnings per share.
“We have successfully transformed the Company over the past year and a half. We are now focused on executing our strategy to generate accelerated revenue growth and create long-term shareholder value,” says Mike Gorenstein, CEO of Cronos Group.
According to the company statement, “As of September 30, 2017, it is expected that the Company’s biological assets will yield approximately 489.3 kg of medical cannabis (December 31, 2016 -213 kg). As at September 30, 2017, the Company held 597.2 kg of finished