Business
ORBIT GARANT DRILLING INC. ANNOUNCES FINANCIAL RESULTS FOR Q3 FISCAL 2011
May 10, 2011 (Canada NewsWire Group) -- Q3 revenue of $33.4 million increased 16% from the ...
About this update from Orbit Garant Drilling Inc.
[{"type":"text","content":"\n\n\n May 10, 2011 (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\n\nQ3 revenue of $33.4 million increased 16% from the comparable quarter in\n fiscal 2010\n\n\nCompleted 368,144 meters of drilling, up from 352,602 last year\n\n\nExpanded fleet to 176 drill rigs, including 8 new drills in the third\n quarter\n\n\nWorking capital of $39.9 million as of March 31, 2011\n\n\nInvested $6.4 million in capital initiatives to sustain growth\n\n\n\nVAL-D'OR, QC, May 10 /CNW/ - Orbit Garant Drilling Inc. (TSX: OGD)\n (Orbit Garant or the "Company") today announced its financial results\n for the third quarter ended March 31, 2011. All dollar amounts are in\n Canadian currency unless otherwise stated.  Percentage calculations are\n based on numbers in the financial statements and may not correspond to\n rounded figures presented in this release.\n\n\nFinancial Highlights\n\n\n\n\n \n\n\n3 months\nended March \n31, 2011\n\n\n3 months\nended March \n31, 2010\n\n\n9 months\nended March \n31, 2011\n\n\n9 months\nended March \n31, 2010\n\n\n\n\n$ amounts in millions except earnings per share\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nRevenue\n\n\n$33.4\n\n\n$28.8\n\n\n$86.7\n\n\n$76.9\n\n\n\n\nGross Profit\n\n\n$8.6\n\n\n$8.9\n\n\n$23.3\n\n\n$24.5\n\n\n\n\nGross Margin %\n\n\n25.7\n\n\n31.0\n\n\n26.8\n\n\n31.9\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nEBITDA\n\n\n$6.1\n\n\n$7.9\n\n\n$17.1\n\n\n$20.1\n\n\n\n\n \n\n\n \n\n\n&...