Eyes on the skies: Connacher profit climbs.
Connacher earnings climb
Canadian oil sands player Connacher Oil and Gas reported third-quarter net earnings of C$47.77 million (US$45.3 million) or 11 Canadian cents per share, compared to C$12.14 million or 6 Canadian cents per share in the same quarter last year.
Total expenses for the quarter declined C$91.86 million, from C$211.59 million in the year ago quarter.
Revenues for the quarter declined to C$151.36 million from C$224.56 million in the prior year quarter.
For the nine-month period, the company said its net earnings were C$40.89 million or 14 Canadian cents per share, compared to C$17 million or 8 Canadian cents per share in the comparable period of last year, according to an RTT report.
Revenues for the period decreased to C$313.34 million from C$527.23 million in the corresponding period of the prior year.