Cresco Labs Turns To Profit In Q4

(RTTNews) - Cresco Labs Inc. (CRLBF), a cannabis and medical marijuana company, on Wednesday registered a net profit for the fourth-quarter, mainly due to reduced costs and expenses.

For the three-month period, the firm posted a net income of $4.868 million, compared with loss of $180.623 million, recorded for the same period in the previous year.

Cost of sales reduced to $92.091 million from the previous year's $111.876 million.

Total operating expenses plunged to $69.047 million from $231.183 million a year ago.

Revenue was at $188.237 million, lesser than $199.580 million of last year.