EnWave (TSXV: ENW) (OTC: NWVCF) reported fiscal second-quarter 2020 results on Friday, May 29, before the market open. The cannabis player's revenue declined 15% year over year, driven by the fallout from the COVID-19 pandemic. It posted a loss per share of 0.02 Canadian, whereas it broke even in the year-ago period.
The company's NutraDried segment, based in Washington state, makes all-natural dried cheese snacks. Its Canada-based EnWave segment licenses, manufactures, and installs equipment for dehydrating organic materials, including food, pharmaceuticals, and cannabis.
The market reaction was slightly positive. On Friday, EnWave shares on Canada's TSX Venture Exchange (TSX) gained 2.6%, and shares traded over the counter (OTC) in the United States were up 1.3%. The S&P 500 index rose 0.5%.