SMART Technologies Sees $49.5 Million in Losses in Q3

SMART Technologies Inc. (TSXV:SMA) has released financial results for the third quarter ended Dec. 31, 2015, announcing a $49.5 million loss.
According to the press release:

“The third quarter was a difficult period in what continues to be a challenging turnaround for SMART,” said Neil Gaydon, President and CEO of SMART. “Over the last few quarters we have focused on launching new and innovative solutions to support longer-term growth as our legacy business remains in transition. While the strategic review is ongoing, during the quarter we moved quickly and decisively to manage our costs, ensuring our cost structure remains supportive of SMART’s broader future objectives.”
Mr. Gaydon continued, “We have decided not to provide forward-looking guidance at this time, due to the inherent lack of visibility in the business and the difficulty of predicting sales of our still relatively new product lines.”

Click here to read the full press release.