HANGZHOU, China (AP) — HANGZHOU, China (AP) — Best Inc. (BEST) on Wednesday reported a fourth-quarter loss of $55.8 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Hangzhou, China-based company said it had a loss of 71 cents. Losses, adjusted to account for discontinued operations and stock option expense, came to 60 cents per share.
The logistics company posted revenue of $287.3 million in the period.
For the year, the company reported a loss of $212.2 million, or $2.70 per share, swinging to a loss in the period. Revenue was reported as $1.12 billion.
Best expects full-year revenue in the range of $1.3 billion to $1.38 billion.
In the final minutes of trading on Wednesday, the company's shares hit 73 cents. A year ago, they were trading at $3.10.
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, source Associated Press News