Triyards Holdings Limited reported unaudited consolidated earnings results for the third quarter and nine months ended May 31, 2017. For the quarter, the company reported revenue of USD 30,930,000 against USD 82,077,000 a year ago. Loss from operations was USD 17,800,000 against profit from operations of USD 6,667,000 a year ago. Loss before tax was USD 64,995,000 against profit before tax of USD 4,932,000 a year ago. The loss before tax was mainly due to lower gross profit/gross loss and allowance for impairment of assets. Loss after tax attributable to owners of the company was USD 63,273,000 against profit after tax attributable to owners of the company of USD 4,120,000 a year ago. Net cash used in operating activities was USD 4,072,000 against USD 26,702,000 a year ago. The Group reported net cash outflow from operating activities mainly due to net decrease in other payables resulting from lower amount of accrual for project related expenses. Purchase of fixed assets was USD 2,093,000 against USD 5,424,000 a year ago. Additions to intangible assets were USD 458,000. For the nine months, the company reported revenue of USD 192,773,000 against USD 230,687,000 a year ago. The decreases of revenue in third quarter and nine months were mainly due to absence of contribution from one unit of self-elevating unit (SEU) ­ BH320 which was delivered during fiscal year 2016 and two units of SEU ­ M300/4 which were delivered during the first half of fiscal year 2017; lower contribution from four units of SEU, of which three units were essentially completed by the end of third quarter 2017. As a result, there was minimal contribution during nine months 2017 whereas contribution from these three units was significant in nine months 2016; and lower contribution from Strategic Marine Group for the construction of aluminum vessel projects. Loss from operations was USD 9,833,000 against profit from operations of USD 21,676,000 a year ago. Loss before tax was USD 68,656,000 against profit before tax of USD 17,819,000 a year ago. The loss before tax was mainly due to lower gross profit/gross loss and allowance for impairment of assets. Loss after tax attributable to owners of the company was USD 67,456,000 or 20.79 cents per diluted share against profit after tax attributable to owners of the company of USD 15,559,000 or 4.79 cents per diluted share a year ago. Net cash used in operating activities was USD 52,186,000 against USD 50,579,000 a year ago. The Group reported net cash outflow from operating activities mainly due to net increase in trade receivables and other receivables, mainly due to progressive revenue recognized during the financial period and net decrease in other payables resulting from lower amount of advance billings to customers and accrual for project related expenses. Purchase of fixed assets was USD 5,721,000 against USD 11,968,000 a year ago. Additions to intangible assets were USD 1,280,000 against USD 77,000 a year ago.