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Article: Canada: AKITA Drilling Ltd. Announces 2008 Earnings and Funds Flow.
- Article from:
- TendersInfo
- Article date:
- March 20, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: manish03
CALGARY, March 18 /CNW/ - Earnings for the year ended December 31, 2008
were $14,847,000 or $0.81 per share on revenue of $137,246,000. Comparative
figures for 2007 were $20,752,000 or $1.14 per share on revenue of
$141,962,000. Funds flow from continuing operations for the current year was
$34,149,000 as compared to $37,143,000 in 2007.
The Companys rig utilization in 2008 was 42.2% compared to the industry