Business
Garneau Inc. second quarter results ended June 30, 2007
Garneau Inc. second quarter results ended June 30, 2007.
About this update from Green Arrow Resources, Inc.
[{"type":"text","content":"\n\n\n\nNISKU, AB, Aug. 14 /CNW/ -\n\n\n Corporate Highlights\n\n- $1 million domestic equipment project for ShawCor Ltd. completed in\n the second quarter of 2007.\n\n\nSummary of Results\n\n Three months ended Six months ended\n(In thousands, except per June 30, June 30, June 30, June 30,\n share data, unaudited) 2007 2006 2007 2006\n-------------------------------------------------------------------------\nRevenue $ 4,772 $ 13,020 $ 12,017 $ 31,830\nMargin 180 2,505 1,646 6,387\nMargin % 3.8% 19.2% 13.7% 20.0%\nEarnings (loss) before\n income taxes (1,759) (21) (2,587) 1,849\n\nNet earnings (loss) (1,281) (273) (1,982) 857\nEarnings (loss)\n per share - basic (0.11) (0.02) (0.16) 0.07\nEarnings (loss)\n per share - diluted (0.11) (0.02) (0.16) 0.07\n\n\nThis report includes forward looking statements that are based on the\nCorporation's current expectations and therefore are subject to uncertainties\nsuch as the level of industry drilling and coating activity, foreign exchange\nfluctuations and world wide economic conditions that may cause actual results\nto differ materially.\n\n\nThis analysis should be read in conjunction with the unaudited interim\nconsolidated financial statements of the Corporation for the six months ended\nJune 30, 2007 and 2006 and in conjunction with the audited consolidated\nfinancial statements and Annual Management Discussion and Analysis for the\nyear ended December 31, 2006.\n\n\nMANAGEMENT DISCUSSION & ANALYSIS\n\n\n-------------------------------------------------------------------------\n\n\nFinancial\n\n\nSecond quarter revenue for the period ended June 30, 2007, totaled\n$4.8 million which was a $8.2 million decrease from the $13.0 million recorded\nfor the comparative quarter ended June 30, 2006, a direct result of decreased\nCamrose coating activity and Nisku manufacturing activity experienced in the\nsecond quarter. Year to date revenue for the period ended June 30, 2007\ntotaled $12.0 million which is $19.8 million below the June 30, 2006\ncomparative period total of $31.8 million, also a direct result of decreased\noverall coating and manufacturing activity.\n\n\nThe slowdown in the oil and gas industry throughout the first six months\nof 2007 has adversely affected 2007 revenue generated by the Corporation.\n\n\nManufacturing revenues for the quarter ended June 30, 2007 totaled\n$...