Orbite Technologies Inc. reported consolidated earnings results for the fourth quarter and full year ended of December 31, 2015. For the quarter, the company reported a loss before net finance expense (income) and taxes of CAD 3.9 million, down 23.5% from CAD 5.1 million for the same period in 2014. Net loss increased by CAD 3.3 million to CAD 6.8 million, as compared to the same period in the prior year. Cash flows used in operating activities increased by CAD 1.2 million.

For the full year, the company's loss before net finance expense (income) decreased by 13.9%, or CAD 2 million, from CAD 14.4 million to CAD 12.4 million, as compared to fiscal 2014. Net loss for the year was CAD 15.4 million, as compared to CAD 12.4 million for fiscal 2014. The increases in net loss for the quarter and fiscal year are principally due to an increase in net finance expenses, resulting from non-cash mark to market adjustments relating to the 2013. Cash flows used in operating activities decreased by CAD 2.8 million.