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ORBIT GARANT DRILLING INC. ANNOUNCES SOLID FINANCIAL RESULTS FOR Q1 FISCAL 2011
ORBIT GARANT DRILLING INC. ANNOUNCES SOLID FINANCIAL RESULTS FOR Q1 FISCAL 2011
About this update from Orbit Garant Drilling Inc.
[{"type":"text","content":"\n\n\n\n Nov. 11, 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\n\n\n\n\nRecord Q1 revenues of $27.4 million\n\n\nRecord Q1 320,959 meters drilled\n\n\n$39.1 million in working capital\n\n\n\nVAL-D'OR, QC, Nov. 11 /CNW/ - Orbit Garant Drilling Inc. (TSX:OGD)\n (Orbit Garant or the "Company") today announced its financial results\n for the first quarter ended September 30, 2010. All dollar amounts are\n in Canadian currency unless otherwise stated.  Percentage calculations\n are based on numbers in the financial statements and may not correspond\n to rounded figures presented in this release. \n\n\nHighlights\n\n\n\n\n \n\n\n3 months ended \nSeptember 30, \n2010\n\n\n3 months ended \nSeptember 30, \n2009\n\n\n\n\n$ amounts in millions except earnings per share\n\n\n \n\n\n \n\n\n\n\nRevenue\n\n\n$27.4\n\n\n$24.4\n\n\n\n\nGross Profit\n\n\n$7.1\n\n\n$8.0\n\n\n\n\nGross Margin %\n\n\n26.1\n\n\n32.8\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nEBITDA\n\n\n$5.3\n\n\n$6.2\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nNet Earnings\n\n\n$2.2\n\n\n$2.5\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nNet earnings per common share\n\n\n \n\n\n \n\n\n\n\n- Basic\n\n\n$0.07\n\n\n$0.08\n\n\n\n\n- Diluted\n\n\n$0.07\n\n\n$0.08\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nTotal Metres Drilled\n\n\n320,959\n\n\n278,974\n\n\n\n\n"We are pleased with our results in the first quarter, which reflect our\n continuing efforts to build an ...