EnWave Stock Trading Lower On 36% YoY Decline In Q4, NutraDried Improves After Restructuring

EnWave Corporation (OTCPK: NWVCF) (TSX-V: ENW) (FSE: E4U) reported its consolidated financial results on Thursday for the fourth quarter and fiscal year ended September 30, 2021.

The Vancouver-based company revealed that its vacuum-microwave machine and royalty business performed materially better in fiscal 2021 than in fiscal 2020, with record margins and profitability.

In addition, its wholly-owned subsidiary NutraDried improved its results in the second half of discal 2021 after material restructuring was conducted due to struggles experienced by the company during the first two fiscal quarters.

The turnaround at NutraDried is well underway with new leadership and there are material opportunities to further improve performance of this business unit in fiscal 2022, EnWave said.

Q4 2021 Financial Highlights

  • Consolidated revenue totaled $6.9 million compared to $7.35 million in the corresponding quarter of 2021 and …

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