Troubled Ottawa-based optics manufacturer Enablence (TSXV:ENA) managed to shrink its losses in the second quarter even as revenues continued to drop.
The company’s revenues were halved during the three-month period that ended on Dec. 31, dropping to US$1.1 million from $2.2 million during the same period in 2012.
Enablence reported a net loss of $3.3 million, an improvement from $4.4 million the year before.
OBJ360 (Sponsored)
Foster employee wellness and show your appreciation with Ingenium
Helping employers better connect with employees, and their families, is the thinking behind the corporate memberships offering from Ingenium.
Mini home? Tiny house? Here’s what you need to know before investing
Building a backyard coach house is easier thanks to Bill 23, and Ottawa General Contractors are helping home owners make it happen.
The company did not provide any more information about the reasons for the results. A news release published online simply contained a link to Enablence’s condensed consolidated financial statements.
The firm has been through a series of changes recently as it seeks to find more stability. A new CEO, Jacob Sun, replaced Louis de Jong last year.
Enablence’s accumulated deficit had grown to $84 million at the end of December from $78 million in June.
An auditor’s report attached to its first quarter financial results warned that “the existence of material uncertainties that cast significant doubt about the company’s ability to continue as a going concern.”
