User:AnalisaN74
Loss on settlement of accounts payable for the fourth quarter of 2017 was $41,000 compared with a gain of $9.9 million for the fourth quarter of 2016 due mainly to the successful settlement of a dispute in the fourth quarter of 2016. Other expense net for the fourth quarter of 2017 was $1.5 million compared with $887,000 for the fourth quarter of 2016 with the increase primarily due to interest expense and related charges due to an increase in borrowing.The net loss for the fourth quarter of 2017 was $2.5 million, or $0.18 per share versus net income of $8.8 million or $0.65 per share for the fourth quarter of 2016, which reflected the gain on settlement of accounts payable that I just mentioned. Adjusted EBITDA excluding one time events for the fourth quarter of 2017 was $1.3 million.
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