WesternOne Inc. Announces Audited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Reports Non-Cash Pre-Tax Impairment Charges on Goodwill and Intangible Assets for the Quarter Ended December 31, 2016
For the year, the company reported revenue from continuing operations of $68.9 million against $83 million a year ago. Adjusted EBITDA was $8.0 million against $18.2 million a year ago. Net loss from continuing operations was $62.7 million against income of $18.1 million a year ago. Net loss was $82.8 million against $19.5 million a year ago. Loss per share from continuing operations was $8.25 against income of $16.03 a year ago. Loss per share was $10.90 against $17.28 a year ago.
Included in the net loss was non-cash pre-tax impairment charges on goodwill and intangible assets of $18.5 million in fourth quarter of 2016, in light of the weak equipment rentals market conditions in Western Canada.