Greystone Logistics Inc (GLGI) Stock Falls 14% After Reporting Quarterly Earnings

On Tuesday, Greystone Logistics Inc (OTCMKTS:GLGI) was in focus among investors after the Tulsa based company announced its financial results for the fiscal year that ended on March 31, 2021.

However, investors did not seem to have been impressed with the performance at all considering the fact that the stock declined by as much as 14% yesterday. In this situation, it might be a good idea to take a closer look at the actual numbers. The company generated net income that is going to be available to common shareholders to the tune of $3,030,165 for the fiscal year and that worked out to net income of $0.11 a share.

However, at the same time, it is necessary for investors to keep in mind that in the previous fiscal year, Greystone had generated net income of $4,301,585 and that worked out to net income of $0.15 a share. On the other hand, the EBITDA for the fiscal year 2021 came in at $12,080,272 and in the previous fiscal year that stood at $1,2152,793. The net income for the fiscal year stood at $3,625,526 and that was again substantially lower than the net income of $4,692,570 that was generated in the previous fiscal year.


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