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Zedcor Energy Inc. Announces 2019 Second Quarter Results
Calgary, Alberta--(Newsfile Corp. - August 28, 2019) - Zedcor Energy Inc. (TSXV: ZDC) (th...
About this update from Zedcor Inc
[{"type":"text","content":"Zedcor Energy Inc. Announces 2019 Second Quarter ResultsCalgary, Alberta--(Newsfile Corp. - August 28, 2019) - Zedcor Energy Inc. (TSXV: ZDC) (the \"Company\") today announced its financial and operating results for the three and six months ended June 30, 2019.Amounts in the following tables and associated discussions are presented in thousands of dollars, except for per share amounts and percentages. Highlights                             Three months ended June 30     Six months ended June 30        (in $000s)   2019     2018     2019     2018   Revenue   3,750     3,408     9,713     8,636          Adjusted EBITDA1,2   1,264     365     4,022     2,137          Adjusted EBIT1,2   (808)     (1,772)   (415)   (1,567)        Net loss from operations   (1,805)   (2,760)     (2,488)   (3,376)          Net loss per share from operations                                    Basic   (0.03)   (0.05)     (0.05)   (0.07)            Diluted   (0.03)   (0.05)   (0.05)   (0.07) 1 Adjusted for severances 2 See Financial Measures Reconciliations belowSELECT FINANCIAL RESULTSRevenue for the quarter ended June 30, 2019 increased by $342 or 9% from $3.4 million to $3.8 million compared to the same quarter in 2018. This increase was due to the revenue generated from the Security and Surveillance segment.Adjusted EBITDA for the quarter ended June 30, 2019 was $1,264, an increase of $899 from the quarter ended June 30, 2018. This increase is a result of the increase in revenue, along with a decrease in general and administrative costs. General and administrative costs decreased by $679, or 77%, in the second quarter of 2019 when compared to the second quarter of 2018. This decrease is largely due to the impact of IFRS 16, which resulted in a decrease in rent expense of $469 in the second quarter of 2019, ...