IROC Energy Services Corp. announces second quarter 2009 results and management changes

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[{"type":"text","content":"\n\n\n\n/THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN UNITED STATES OR TO ANY\nUNITED STATES NEWS SERVICES/\n\n\nCALGARY, Aug. 10 /CNW/ - IROC Energy Services Corp. ("IROC" or the\n"Company") (TSX: "ISC") announces the Company's financial results for the\nthree and six months ended June 30, 2009 and certain management changes.\n\n\nFINANCIAL HIGHLIGHTS\n--------------------\n\n For the 3 months ended June 30,\n ------------------------------------\n (Unaudited) (Unaudited)\n 2009 2008 % Change\n-------------------------------------------------------------------------\nRevenue - continuing operations $9,302 $10,154 -8%\n-------------------------------------------------------------------------\nOperating costs 6,567 7,519 -13%\n-------------------------------------------------------------------------\nGross margin 2,735 2,635 4%\nGross margin % 29% 26% 12%\n-------------------------------------------------------------------------\nGeneral and administrative expenses 2,159 2,150 0%\n-------------------------------------------------------------------------\nEBITDAS - continuing operations(1) 576 485 19%\nPer share diluted(1) 0.01 0.01 0%\n-------------------------------------------------------------------------\nNet earnings (loss) - continuing\n operations (1,260) (1,894) 33%\nPer share diluted (0.03) (0.04) 25%\n-------------------------------------------------------------------------\nNet earnings (loss) (1,260) (2,142) 41%\nPer share diluted (0.03) (0.05) 40%\n-------------------------------------------------------------------------\nNumber of shares outstanding\n Basic 44,200,651 44,301,080 0%\n Diluted 44,200,651 44,321,531 0%\n-------------------------------------------------------------------------\n\n\n For the six months ended June 30,\n ------------------------------------\n (Unaudited) (Unaudited)\n 2009 2008 % Change\n-------------------------------------------------------------------------\nRevenue - continuing operations $23,310 $29,674 -21%\n-------------------------------------------------------------------------\nOperating costs 15,793 19,239 -18%\n-------------------------------------------------------------------------\nGross margin 7,517 10,435 -28%\nGross margin % 32% 35% -9%\n-------------------------------------------------------------------------\nGeneral and administrative ex...

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