Surna trims losses in Q1
BOULDER — Surna Inc. (OTCQB: SRNA), a Boulder-based indoor cannabis cultivation system maker, posted a net loss of $900,000 in the first quarter of fiscal year 2019, down from a $1.88 million loss in the same period last year.
Cost reductions helped shrink the company’s year-over-year loss, as revenues were down in the most recent quarter as compared to the first quarter of fiscal year 2018. Surna posted revenues of $1,771,000 for the quarter that ended March 31, 2019, down from $2,055,000 in the first quarter of 2018.
“In late 2018, we announced and subsequently launched a re-set for Surna, with a focus on cost reductions and a revised organic growth plan,” Surna CEO Tony McDonald said in a prepared statement. “We believe this plan is being reflected in our modest quarter-over-quarter revenue declines and our cost savings, which reduced our operating cash burn by nearly $300,000 over the prior quarter. “
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BOULDER — Surna Inc. (OTCQB: SRNA), a Boulder-based indoor cannabis cultivation system maker, posted a net loss of $900,000 in the first quarter of fiscal year 2019, down from a $1.88 million loss in the same period last year.
Cost reductions helped shrink the company’s year-over-year loss, as revenues were down in the most recent quarter as compared to the first quarter of fiscal year 2018. Surna posted revenues of $1,771,000 for the quarter that ended March 31, 2019, down from $2,055,000 in the first quarter of 2018.
“In late 2018, we…
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