Business
ORBIT GARANT DRILLING INC. ANNOUNCES GROWTH AND STRONG FINANCIAL RESULTS FOR Q2 FISCAL 2011
Feb. 10, 2011 (Canada NewsWire Group) -- Orbit Garant announces the appointment of Mr. Willi...
About this update from Orbit Garant Drilling Inc.
[{"type":"text","content":"\n\n\n\n Feb. 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\nOrbit Garant announces the appointment of Mr. William N. Gula to its\n Board of Directors\n\n\n\nRevenue $25.9 million, compared with $23.7 million in the comparable\n quarter of fiscal 2010\n\n\nCompleted 297,704 meters of drilling, up from 287,861 last year\n\n\nAn expanding fleet of 168 drill rigs, including 9 new drills in the\n second quarter\n\n\nWorking capital increased to $40.5 million\n\n\nTwo strategic acquisitions and one strategic partnership in Northern\n Ontario\n\n\n\nVAL-D'OR, QC, Feb. 10 /CNW/ - Orbit Garant Drilling Inc. (TSX:OGD)\n (Orbit Garant or the "Company") today announced strong financial\n results for the second quarter ended December 31, 2010. All dollar\n amounts are in Canadian currency unless otherwise stated.  Percentage\n calculations are based on numbers in the financial statements and may\n not correspond to rounded figures presented in this release.\n\n\nFinancial Highlights\n\n\n\n\n \n\n\n3 months\nended\nDecember 31,\n2010\n\n\n3 months\nended\nDecember 31,\n2009\n\n\n6 months\nended\nDecember 31,\n2010\n\n\n6 months\nended\nDecember 31,\n2009\n\n\n\n\n$ 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$25.9\n\n\n$23.7\n\n\n$53.3\n\n\n$48.1\n\n\n\n\nGross Profit\n\n\n$7.5\n\n\n$7.6\n\n\n$14.6\n\n\n$15.6\n\n\n\n\nGross Margin %\n\n\n29.1\n\n\n32.0\n\n\n27.6\n\n\n32.4\n\n\n\n\n \n\n\n&...