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BRIEF-Sygnis Q1 net loss increases to EUR 1.2 million
May 11, 2017 / 6:07 AM / 3 months ago

BRIEF-Sygnis Q1 net loss increases to EUR 1.2 million

May 11 (Reuters) - SYGNIS AG:

* SYGNIS AG REPORTS FINANCIAL RESULTS FOR FIRST QUARTER OF 2017

* REVENUES INCREASED 15-FOLD TO EUR 1.4 MILLION FOR Q1 OF 2017 (Q1 2016: EUR 0.09 MILLION)

* NET LOSS FOR Q1 OF 2017 WAS EUR 1.2 MILLION COMPARED TO EUR 0.7 MILLION FOR Q1 OF 2016

* FOR FISCAL YEAR 2017 REVENUES IN RANGE OF EUR6.5 TO EUR7.5 MILLION ARE EXPECTED

* FOLLOWING ACQUISITION OF INNOVA BIOSCIENCES LTD., COMBINED PRO-FORMA REVENUES OF MORE THAN EUR 10 MILLION ARE EXPECTED FOR 2017

* EXPECTS TO REACH BREAK-EVEN IN Q4 OF 2017 WITH STRONG UPSIDE POTENTIAL AND CASH GENERATION EXPECTED FOR 2018 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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