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Latest Headlines
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Mar 10, 2010 6:42:00 PM MST
Savanna Energy Services reports Q4 loss as revenue falls from year ago (Savanna-Energy)
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CALGARY _ Savanna Energy Services Corp. (TSX:SVY) said Wednesday that it lost $18.1 million in its latest quarter as revenue ped nearly 40 per cent.
The oilfield services firm said the loss amounted to 23 cents per diluted share for the quarter ended Dec. 31 compared with a loss of $311 million or $5.26 per diluted share a year ago.
The results for the quarter included a $27.4-million one-time impairment charge compared with a $319.4-million charge a year ago.
Revenue totalled $85.4 million, down from $139.7 million.
Shares in the company, which reported its results after the close of markets, were up four cents at $7.44 on the Toronto Stock Exchange on Wednesday.
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