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Friday, 21 November, 2008, 23:40 GMT | more >>

Boots & Coots caps year-ago loss



By Upstream staff 

Well intervention and response specialist Boots & Coots turned around a year-ago loss to end the third quarter of 2006 in the black.

The company reported net earnings attributable to shareholders of $3.4 million, or five cents per diluted share, for the third quarter of 2006, compared to a net loss of $691,000, or a loss of two cents per diluted share, in the year ago quarter.

Revenue for the third quarter hit $28.3 million, compared with $4.6 million for the year-ago period.

For the first nine months of 2006 Boots & Coots reported net earnings attributable to shareholders of $7.3 million, or 13 cents per share, compared with net earnings of $692,000, or two cents per share in the first nine months of 2005.

Revenues for the first three quarters of the year were $63.3 million, up from $23.7 million in the same period in 2005.

The company said it benefitted from strong response activity in the period, while an expanded range of international locations put it closer to customers.


Tuesday, 07 November, 2006, 23:31 GMT  | last updated: Tuesday, 07 November, 2006, 23:31 GMT

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