Hamilton Thorne Reports Financial and Operational Results for the Quarter-Ended June 30, 2020 - Seite 2

				Three and Six-Month Periods Ending June 30
				Three Months		Six Months
Statements of Operations:				2020	2019	2020	2019
Sales				$7,332,559	$8,009,181	$17,727,635	$15,647,238
Gross profit				3,789,611	4,180,727	9,012,405	8,156,526
Operating expenses				4,075,644	3,575,707	8,316,654	6,535,140
Net income (loss)				(594,343)	100,179	(448,941)	(464,062)
Adjusted EBITDA				573,150	1,551,787	2,400,875	3,057,100
Basic earnings per share				($0.00)	$0.00	($0.00)	($0.00)
Diluted earnings per share				($0.00)	$0.00	($0.00)	($0.00)

All amounts are in US dollars, unless specified otherwise, and results, with the exception of Adjusted EBITDA, are expressed in accordance with the International Financial Reporting Standards (“IFRS”).

Mr. Wolf continued, “Gross profit margins decreased slightly to 51.7% for the quarter and to 50.8% for the six months ended June 30, 2020, versus 52.2% and 52.1% for the comparable periods in 2019 primarily due to product mix, the addition of somewhat lower margin sales of Planer products, partially offset by increases in direct sales of higher margin, branded products. Margins were also negatively impacted, primarily in the second quarter, due to certain relatively fixed costs of manufacturing spread over a reduced base of sales.”