MONCTON, Canada (AP) _ OrganiGram Holdings Inc. (OGI) on Tuesday reported a fiscal first-quarter loss of $653,000, after reporting a profit in the same period a year earlier.
The Moncton, Canada-based company said it had a loss of 1 cent per share. Losses, adjusted for non-recurring gains, came to 2 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The cannabis producer posted revenue of $19 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $14.7 million.