06:14 AM EDT, 03/12/2024 (MT Newswires) -- Magellan Aerospace Corp. ( MALJF ) overnight Monday said that it narrowed its fourth-quarter net loss to $266,000, or $0.00 per share, from a loss of $20.8 million, or $0.36 per share, a year earlier.

Revenue for the quarter ended Dec. 31, 2023, was $223.6 million, up from $193.1 million a year earlier.

Adjusted EBITDA for Q4 was $16.4 million, as compared with an adjusted EBITDA loss of $4.8 million.

After Dec. 31, 2023, the company's board had declared a quarterly cash dividend on its common shares of $0.025 per common share. The dividend will be paid on March 28 to shareholders of record at the close of business on March 15.