Triyards Holdings Limited reported unaudited consolidated earnings results for the fourth quarter and full year ended August 31, 2016. For the quarter, the company reported, revenue of $94,205,000, profit from operations of $4,387,000, profit before tax of $1,793,000, profit after tax attributable to owners of the company of $2,234,000 against revenue of $88,403,000, profit from operations of $10,517,000, profit before tax of $9,411,000, profit after tax attributable to owners of the company of $8,405,000 a year ago. Net cash generated from operating activities was $20,470,000 against net cash used in operating activities of $327,000 a year ago. Purchase of fixed assets was $8,964,000 against $1,200,000 a year ago. Additions to intangible assets were $1,150,000. The decrease in profit before tax was mainly due to lower gross profit generated during the financial period, which was partially offset by lower administrative expenses.

For the full year, the company reported revenue of $324,892,000, profit from operations of $26,063,000, profit before tax of $19,612,000, profit after tax attributable to owners of the company of $17,793,000 or 5.48 cents per fully diluted share against revenue of $270,113,000, profit from operations of $31,257,000, profit before tax of $29,933,000, profit after tax attributable to owners of the company of $27,154,000 or 8.43 cents per fully diluted share a year ago. Net cash used in operating activities was $30,109,000 against net cash generated from operating activities of $58,355,000 a year ago. Purchase of fixed assets was $20,932,000 against $16,995,000 a year ago. Additions to intangible assets were $1,227,000 against $548,000 a year ago. The increase in revenue for the quarter and full year was mainly due to: contributions from three units of self-elevating units, two units of multi-purpose support vessels, three units of chemical tanker, four units of escort tugs and one unit of scientific research vessel during the financial period; contribution from Strategic Marine Group for the construction of aluminum crew boats and wind farm vessels; and certain industrial and offshore fabrication projects. The decrease in profit before tax was mainly due to lower gross profit earned resulting from different mix of projects and absence of non-recurring negative goodwill of $3.6 million recognized in fiscal year 2015. Capital expenditure was $45.4 million. Net asset value per ordinary share was $68.90 against $64.22 a year ago. EBITDA $38,005,000 against $44,351,000 a year ago. Net debt as at August 31, 2016 was $134,434,000 against $63,597,000 a year ago. Net tangible assets per share 66.03 cents against 61.64 cents a year ago.

For the fourth quarter ended August 31, 2016, the company reported fixed assets written off were $31,000 compared to $46,000 a year ago.