Home / Knowledge / News / Textiles / CRAiLAR begins generating revenue Q2 onwards
CRAiLAR begins generating revenue Q2 onwards
Aug '13
CRAiLAR Technologies Inc., which produces and markets CRAiLAR Flax fiber - The Friendliest Fiber On The Planet, reported sales of $0.2 million and a net loss of $3.0 million or $0.07 per share for the second quarter ended June 29, 2013.

This compares with no sales and a net loss of $1.4 million or $0.03 per share for Q2 2012. This quarter's loss includes expenses not present last year, such as interest of $0.5 million, depreciation of $0.3 million and an impairment loss of $0.5 million.  Absent these expenses, the Company's net loss would have been $1.7 million.

The Company's Adjusted EBITDA for the quarter was a loss of $1.3 million compared with a loss of $0.7 million for Q2 2012. For further information regarding Adjusted EBITDA, including a reconcilition of Adjusted EBITDA to net loss, see "Non-GAAP Financial Measures" below.

"Q2 2013 was another important milestone for the Company as we transitioned from a pre-revenue company to a revenue generating company," stated Ken Barker, CEO of CRAiLAR.  "We started shipping CRAiLAR Flax as our customers began integrating our fibers into their supply chain and we expect customer orders to accelerate in the coming quarters." Barker continued, "While we are pleased that revenues are starting to flow, we remain focused on improving our efficiency internally and managing third party resources effectively so that we can drive down production costs until we commission a fully integrated production facility."

Cash and cash equivalents at June 29, 2013 were $0.6 million, down from $2.9 million at December 31, 2012. The changes in cash equivalents resulted from $4.4 million of cash used in operations and $2.5 million of cash invested in property and equipment partially offset by $3.9 million of cash from financing activities through the issuance of $4.2 million of convertible debentures (net $3.7 million after expenses) and $0.2 million of common stock and exchange gains of $0.7 million.

Click here to view full result.

CRAiLAR Technologies

Must ReadView All

(L-R) Mr Shao Bojin, Chairman of Jihua Group and Mr Rohit Aggarwal, President of Huntsman Textile

Textiles | On 28th Oct 2016

Huntsman gets into strategic partnership with Jihua Group

Huntsman Textile Effects, the leading provider of high quality dyes...

Marzoli FT6D roving frames in Sintex’s Unit 2. Coutresy: Marzoli

Textiles | On 28th Oct 2016

Marzoli roving frames erected at Sintex textile division

A total of 48 Marzoli roving frames were erected in units I, II and...

Courtesy: Polartec

Textiles | On 28th Oct 2016

Polartec innovates most breathable waterproof fabric

Polartec, the premium provider of innovative textile solutions, has...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search