Quest Solution Reports Year End and Q4 Results

Quest Solution (OTCQB:QUES) has announced its financial results for the year ended December 31, 2016.
As quoted in the press release:

Year End and Subsequent Highlights

• Net revenues of $60.0 million for the year ended December 31, 2016, an increase of 2.5% compared to the prior year period;
• Company secures trade extension agreement with a key supplier and converts $12.4 million of accounts payable into a promissory note and extends the maturity to September 30, 2017
• Company completes divesture of its Canadian operations
• Net loss from continuing operations for the year ended December 31, 2016 of $7.5 million
• Adjusted EBITDA for the year and three months ended December 31, 2016 of $1.1 million and $0.6 million, respectively
• Redemption of 3,042,500 common shares for the year ended December 31, 2016
• Appointment of Shai Lustgarten as President and CEO

Fourth Quarter and Year-end 2016- Select Financial Results from Continuing Operations(1)
Three Months Ended 12/31/2016	Three Months Ended 12/31/2015	Year Ended 12/31/2016	Year Ended 12/31/2015
Revenues		16,607,405	17,653,607	60,047,124	58,598,531
Gross profit		3,303,735	3,035,044	12,094,545	11,948,254
Gross profit margin	19.9	%	17.2	%	20.1	%	20.4	%
Net loss from continuing operations		(2,138,433	)	(1,704,964	)	(7,493,270	)	(1,475,524	)
Adjusted EBITDA		631,104	54,311	1,134,442	1,153,131
Adjusted EBITDA	3.8	%	0.3	%	1.9	%	2.0	%
Loss per share from continuing operations – basic		(0.06	)	(0.04	)	(0.21	)	(0.04	)
Weighted average shares outstanding – basic		34,742,996	37,725,736	35,947,523	36,195,065

Click here to read the full press release.