Precision saw its loss in the three month period increase to C$57.7 million (US$44.3 million) compared to a loss of C$29.8 million in the previous year.
Revenues fell to C$164 million compared to C$334.4 million year-on-year, "mainly due to lower activity from North American operations", the company said.
"Precision's second quarter results were adversely affected by weak customer demand and seasonally low Canadian spring break-up activity levels.
