DMC Global reports net loss in corrected annual report

BROOMFIELD — Metalworking company DMC Global Inc. (Nasdaq: BOOM) reported a net loss of $2.8 million for the fourth quarter of 2021 in its annual report released Feb. 25. The Broomfield-based company issued corrections for its annual report after incorrect numbers were mistakenly included in its previous release.

Full-year sales at DMC Global were up 14% over the previous year, and fourth-quarter sales were up 26% over the same period in 2020.

The full-year net loss reported by DMC Global was $202,000, and the net loss diluted per share was 26 cents.

Litigation expenses were around $750,000 higher than forecasted by DMC Global’s management, with several patent infringement lawsuits brought against DynaEnergetics, a division of DMC Global.

Share price plummeted after the annual report was released Feb. 25, dropping around 9.4%. A Nasdaq report declared shares for DMC Global entered oversold status, as its relative strength index dropped below 30. Trading closed Feb. 28 at $29.40, while DMC Global’s 52-week high stock price was $70.

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