The spread of the COVID-19 pandemic led to countries and states closing borders, disrupting supply chains with companies holding off new product launches and some even shutting stores.
Aphria’s first-quarter distribution revenue fell to $82.2 million from $99.1 million in the previous quarter and $95.3 million from a year earlier.The company reported net revenue of $145.7 million in the quarter, missing Street estimates of $159.7 million, according to IBES data from Refinitiv. Ontario-based Aphria also posted a net loss of $5.1 million, or 2 cents per share, in the three months ended Aug. 31, compared with a net income of $16.4 million or 7 cents per share, a year earlier.© Thomson Reuters 2020
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