Lotus Turns a Profit for the 'First Time in Years'

Lotus has, for the "first time in many years," reported a profit, according to the press release from the automaker. Lotus called this event a "radical financial turnaround" and "a major milestone" in the history of the company. Specifically, the recently-minted Geely subsidiary posted a positive EBITDA (that's earnings before interest, taxes, depreciation, and amortization for you non-finance majors) last year of £2 million or $2.6 million in today's exchange rates—a significant achievement considering the company lost the equivalent of over $21 million by the same metric the year before that.
Read more: http://www.thedrive.com/sheetmetal/13412/lotus-turns-a-profit-for-the-first-time-in-years?source=Snapzu