Business
BRI-CHEM CORP. REVENUE UP 60% IN THIRD QUARTER 2010
BRI-CHEM CORP. REVENUE UP 60% IN THIRD QUARTER 2010
About this update from Bri-chem Corp.
[{"type":"text","content":"\n\n\n\n Nov. 2, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTSX Venture Exchange Symbol "BRY"\n\n\nEDMONTON, Nov. 2 /CNW/ - Bri-Chem Corp. ("Bri-Chem" or the "Company") (TSX Venture Exchange: BRY) a leading Canadian wholesale distributor of oil & gas drilling fluids,\n steel pipe and piping products announced today its results for the\n third quarter ended September 30, 2010. During a year of moderate\n increases in drilling activity, Bri-Chem has continued to gain market\n share with a substantial increase in customer demand. The oil and gas\n drilling activity in the third quarter of 2010 experienced a 20%\n increase in drilling rig utilization rates compared to the third\n quarter of 2009 while Bri-Chem's revenues rose by 61% and net earnings\n were up over 135%.\n\n\n"Our third quarter results demonstrate the exceptional growth potential\n of Bri-Chem" said Don Caron, President and Chief Executive Officer of\n Bri-Chem. "Our underlying businesses generated strong net earnings and\n cash flows, despite the effect of wet weather late in the third\n quarter.  Our outlook for the fourth quarter of 2010 remains\n exceptionally strong as a result of pent-up demand for oil and gas\n drilling fluids and tubing and casing steel products. We are\n well-positioned in the sector as we enter what is expected to be very\n busy fourth quarter for us."\n\n\nConsolidated revenues were $38,484,673 for the third quarter of 2010 as\n ...