Triyards Holdings Limited reported unaudited consolidated earnings results for the first quarter ended November 30, 2016. For the quarter, the company reported revenue of USD 91,199,000 compared to USD 78,125,000 a year ago. Profit from operations was USD 3,614,000 compared to USD 8,012,000 a year ago. Profit before tax was USD 1,997,000 compared to USD 7,012,000 a year ago. Profit attributable to owners of the company was USD 2,067,000 compared to USD 6,157,000 a year ago. Net cash used in operating activities was USD 23,310,000 compared to net cash generated from operating activities of USD 1,393,000 a year ago. Purchase of fixed assets was USD 663,000 compared to USD 3,562,000 a year ago. Additions to intangible assets were USD 551,000 compared to USD 76,000 a year ago. The increase in revenue was mainly due to: contributions from two units of multi-purpose support vessels, three units of chemical tanker, four units of escort tugs, one unit of scientific research vessel and two units of oil tankers during the financial period and contribution from Strategic Marine Group for the construction of aluminum crew boats and wind farm vessels. Profit before tax was decreased by USD 5.0 million (72%) compared to last year. The decrease was mainly due to lower gross profit generated and higher administrative expenses and financial expenses incurred during the financial period.