01:51 PM EDT, 03/21/2024 (MT Newswires) -- Baylin Technologies Inc. ( BYLTF ) overnight Wednesday reported a fourth-quarter net loss of $8.1 million, or $0.08 per share, wider than a loss of $4.6 million, or $0.06 per share, a year earlier.

Revenue for the quarter ended Dec. 31, 2023, was $16.1 million, down from $20.4 million a year earlier.

Adjusted EBITDA loss for Q4 was $2.7 million, as compared with adjusted EBITDA of $606,000 a year earlier.

Additionally, the company said it has hired an investment banker to facilitate the sale of its Mobile and Network business line in this calendar year. As a result, to report the results, continuing operations now comprise three business lines: Embedded Antenna; Wireless Infrastructure; and, Satcom. The M&N business line is being reported as "held for sale".

The company's stock dropped nearly 4% on last look on Thursday.

Price: 0.25, Change: -0.01, Percent Change: -3.92