Ezra Holdings Limited Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended February 29, 2016; Announces Impairment Loss on Fixed Assets for the Second Quarter of Fiscal 2016
For six months, the company reported revenue of $263.420 million compared to $257.137 million a year ago. The increase was due to an increase in revenue of $75.8 million from Marine Services Division. The increase was partially offset by a decrease in revenue of $59.8 million from Offshore Support and Production Services Division and a decrease of $9.7 million from Energy Services Division. Loss from continuing operations were of $223.767 million compared to profit of $101.975 million a year ago. Loss before tax from continuing operations were of $265.787 million compared to profit of $93.202 million a year ago. Loss after tax from continuing operations were of $269.849 million or 8.12 cents per diluted share compared to profit of $89.213 million or 4.68 cents per diluted share a year ago. Loss attributable to owners of the company was of $305.276 million or 10.38 cents per diluted share compared to profit of $54.552 million or 3.25 cents per diluted share a year ago. Net cash used in operating activities were of $41.978 million compared to net cash generated from operating activities of $27.149 million a year ago. Purchase of fixed assets was of $85.733 million compared to $133.332 million a year ago. Purchase of intangible asset was of $0.076 million. As on February 29, 2016, the company's net asset value per ordinary share was 35.53 cents.
The company announced impairment loss on fixed assets of $60.5 million for the second quarter ended February 29, 2016.