Synthesis Energy Systems, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2017
May 11, 2017 at 04:05 pm EDT
Share
Synthesis Energy Systems, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2017. For the quarter, the company reported revenue of $22,000 against $51,000 a year ago. Operating loss was $2,728,000 against $2,843,000 a year ago. Net loss before income tax provision was $2,749,000 against $2,822,000 a year ago. Net loss from continuing operations was $2,749,000 or $0.03 per basic and diluted share against $2,822,000 or $0.03 per basic and diluted share a year ago. Net loss attributable to stockholders was $2,712,000 or $0.03 per basic and diluted share against $2,975,000 or $0.03 per basic and diluted share a year ago. The decrease in operating loss was primarily due to a reduction in general administrative expenses during the Current quarter.
For the nine months, the company reported revenue of $27,000 against $351,000 a year ago. Operating loss was $8,274,000 against $9,002,000 a year ago. Net loss before income tax provision was $8,427,000 against $9,147,000 a year ago. Net loss from continuing operations was $8,427,000 or $0.09 per basic and diluted share against $9,147,000 or $0.10 per basic and diluted share a year ago. Net loss attributable to stockholders was $6,228,000 or $0.07 per basic and diluted share against $11,483,000 or $0.13 per basic and diluted share a year ago.
Synthesis Energy Systems, Inc. together with its subsidiaries is a global clean energy company. The Company owns SES Gasification Technology (SGT), which is used for production of synthesis gas. The SGT produces syngas that provide alternative to other forms of energy such as natural gas, liquefied natural gas (LNG), crude oil and the conventional utilization of coal in boilers for power generation. It manufactures clean syngas from a range of natural and renewable resources, such as all forms of coal, biomass, municipal solid waste (MSW), and refuse derived fuels. The Syngas is used to produce a range of clean energy and chemical products such as synthetic natural gas, power, methanol, and fertilizer. The Company is focused on commercializing SGT both in China and globally through the regional business platforms.
SYNTHESIS ENERGY SYSTEMS, INC. 
