Netshoes Limited Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017
Netshoes (Cayman) Limited announced unaudited consolidated earnings and production results for the first quarter ended March 31, 2017. For the quarter, the company reported net sales were $396.2 million compared with $347.9 million a year ago. Operating loss was $4,479,000 compared with $46,986,000 a year ago. Loss before income tax was $37,717,000 compared with $61,636,000 a year ago. EBITDA was $3.1 million compared with LBITDA was $42.6 million a year ago. Net loss was $37.7 million compared with $61.6 million a year ago. Adjusted net income was $0.6 million compared with loss of $24.4 million a year ago. Net cash used in operating activities was $78.5 million compared with $78.4 million a year ago. Purchase of property and equipment was $2,164,000 compared with $11,107,000 a year ago. Purchase of intangible assets was $10,960,000 compared with $16,293,000 a year ago. Net adjusted financial result was $32.7 million compared with $12.1 million a year ago. Basic and diluted loss per share was $1.79 compared with $2.92 a year ago.