06:48 AM EDT, 03/14/2024 (MT Newswires) -- Mattr Corp. ( MTTRF ) -- a growth-oriented, global materials technology company broadly serving critical infrastructure markets, including transportation, communication, water management, energy, and electrification -- earlier Thursday reported a fourth-quarter net loss of $23 million, or $0.34 per diluted share, narrower than a loss of $66.8 million, or $0.94 per diluted share, a year earlier.

Two out of three analysts polled by Capital IQ expected $0.46.

Revenue for the quarter ended Dec. 31, 2023, was $210.8 million, down from $225.8 million a year earlier. Analysts surveyed by Capital IQ expected $201.4 million.

Total adjusted EBITDA from operations for Q4 was $137.7 million versus $56.6 million a year ago.

As at Dec. 31, 2023, the company had a total net cash of $334.1 million and a net debt-to-adjusted EBITDA ratio of about (0.26) times,

Looking ahead, the company expects to experience a modest sequential increase in consolidated revenue within its Continuing Operations during the first quarter.

Further, Mattr ( MTTRF ) expects to continue to make sizeable organic investments throughout 2024 to modernize, expand capacity in targeted geographies, and improve efficiency within the North American production network of its Composite Technologies and Connection Technologies segments.