03:18 PM EST - MediPharm Labs Corp. : Announced its financial results for the three and nine months ended September 30, 2019. During the period the Company posted strong growth in revenue, adjusted EBITDA and net income even while making significant investments in capacity and capability that will benefit future performance and support global growth opportunities. Revenue was $43.4 million, a 38% increase over Q2 2019, as the Company expanded its leadership of the Canadian cannabis extraction industry. Gross Profit was $14.8 million, a 30% increase over Q2 2019 and Gross Margin was 34% compared to 36% in Q2 2019 despite lower market-selling prices and increased GMP audit certification costs. Net income before tax was $5.4 million compared to net income before tax of $4.1 million in Q2 2019. MediPharm Labs Corp.
shares T.LABS are trading down $0.43 at $4.62.
