SG Blocks Q3 2022 revenue down 53% to $4.1M; net loss per share improves to $0.18

OLENOX INDUSTRIES INC.

2023-Q3 EPS reported -$0.35 vs consensus -$4700.16 ▲ beat (+100.0%)

Consolidated revenue $4.1M, down 53% YoY from $8.8M; construction revenue up 334% to $2.7M.
Net loss from continuing ops $2.454M ($0.18/share) vs $3.831M ($0.43/share) a year ago; operating loss narrowed.
Gross profit loss improved to ($0.165M) from ($0.607M); gross margin rose to -4.0% from -6.9%.
Construction backlog $2.59M; SG Echo expects $11.5M expansion with largest client; new U.S. military client added.
Share buyback program commenced with Oppenheimer & Co.; St. Marys manufacturing facility closed.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OLENOX INDUSTRIES INC. reported third quarter ended September 30, 2022 results: revenue $4.1 million, net income ($2,454) million, EPS ($0.18) per share.

Period: third quarter ended September 30, 2022
Revenue: $4.1 million
Net income: ($2,454) million
EPS: ($0.18) per share
Result: reported results

Exact text from the filing

Third Quarter 2022 Financial Highlights ● Consolidated Revenues. Third quarter 2022 consolidated revenue was $4.1 million. Revenues fell 53%, or $4.7 million, from third quarter 2021 to third quarter 2022, primarily driven from the decline in the medical segment, offset by the growth in the construction segment. Consolidated revenues are up 612% over a two-year period, driven from strong growth in both the medical and construction segments. ● Construction Revenues. Construction revenue for the third quarter 2022 was $2.7 million compared to $0.6 million for the third quarter 2021, representing an increase of 334%, or $2.0 million. ● Breakdown of Revenues. Revenues generated in the third quarter were primarily driven 65% by construction revenue and 35% by medical revenue. ● Gross Profit. Third quarter gross profit was ($0.165) million, an increase of 73%, or $0.442 million, compared to gross profit of ($0.607) million for the third quarter 2021. Gross profit margin increased from (6.9%)

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Source: SEC EDGAR

accession 0001213900-22-072670

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