Lignol Energy Drops 13% As Posts $1.3 Million Net Loss in Q2
Lignol Energy Corporation (LEC.V) fell sharply to $0.065 by 13% from yesterday's $0.075 close, moving even closer to year low 3 cents, after announcing today that for the three month period ended October 31, 2011, it had a net loss of $1.3 million or $0.03 per share. This compares to a net income of $0.1 million in the same period last year.
The company said the $1.4 million increase in the net loss for the current period arose from a $1.6 million reduction in government and corporate contributions, net of a $0.2 million reduction in expenses.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.