Loop Industries, Inc. Reports Earnings Results for the Third Quarter Ended November 30, 2019
January 09, 2020 at 04:32 pm EST
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Loop Industries, Inc. announced earnings results for the third quarter ended November 30, 2019. For the third quarter, the company announced net loss was USD 3.850 million compared to USD 2.913 million a year ago. Basic loss per share from continuing operations was USD 0.1 compared to USD 0.09 a year ago. For the nine months, net loss was USD 10.747 million compared to USD 9.981 million a year ago. Basic loss per share from continuing operations was USD 0.29 compared to USD 0.3 a year ago.
Loop Industries, Inc. is a Canada-based clean technology company. The Company owns patented and proprietary technology that depolymerizes noand low-value waste polyethylene terephthalate (PET) plastic and polyester fiber, including plastic bottles and packaging, carpets and textiles of any color, transparency or condition and ocean plastics that have been degraded by the sun and salt, to its base building blocks (monomers). The monomers are filtered, purified and polymerized to create virgin-quality Loop branded PET resin suitable for use in food-grade packaging and polyester fiber, thus enabling its customers to meet their sustainability objectives. Its Infinite Loop provides an end-to-end industrial solution to supply the global demand for Loop PET resin made from recycled content. Loop PET plastic and polyester fiber can be recycled infinitely. The Company reduces plastic waste and recovering waste plastic.
LOOP INDUSTRIES, INC. 
