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Latest Headlines
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May 12, 2008 5:48:00 PM MST
Kelman reports Q1 loss of $33,000 compared with $82,000 profit a year ago (Kelman)
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CALGARY _ Kelman Technologies Inc (TSX:KTI) said Monday it lost $33,000 in its first quarter compared with a profit of $82,000 a year ago.
The processor of seismic data for the oil and gas industry said the loss amounted to zero cents per share on $6.6 million in revenue for the three months ended March 31.
That compared with a profit zero cents per share on $6.6 million in revenue a year ago.
KTI president and chief utive Rene VandenBrand said first quarter of 2008 started off relatively slowly as expected.
"Our largest seismic data processing market is still in Canada where exploration activity has been slower than in prior years," VandenBrand said in statement.
"Overall, we expect to see stronger financial performance from our U.S. seismic data processing operations that will in part offset a weaker Canadian environment for the balance of 2008."
Shares in the company, which reported its results after the close of markets, were down a penny at 17.5 cents on the Toronto Stock Exchange on Monday.
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