Brief: Orbit Garant Drilling Reports Fiscal 2020 Second Quarter Financial Results

Orbit Garant Drilling

12/02/2020 22:24

Feb 12 (Reuters) - Forage Orbit Garant Inc  OGD.TO :
    * ORBIT GARANT DRILLING REPORTS FISCAL 2020 SECOND QUARTER
FINANCIAL RESULTS
    * Q2 LOSS PER SHARE C$0.06
    * Q2 REVENUE ROSE 13.6 PERCENT TO C$38.3 MILLION
    * OUR FISCAL Q2 IS TYPICALLY OUR WEAKEST QUARTER DUE TO
PROJECT
SHUTDOWNS DURING DECEMBER HOLIDAYS
    * OUR FISCAL Q2 IS TYPICALLY OUR WEAKEST QUARTER DUE
DECREASED
DRILLING ACTIVITY IN WEST AFRICA DUE TO RAINY SEASON
    * FORAGE ORBIT GARANT - INTERNATIONAL OPERATIONS WERE ALSO
IMPACTED BY CIVIL PROTESTS IN CHILE AND REGIONAL SECURITY ISSUES
IN BURKINA FASO DURING QUARTER
    * EXPECT INCREASING INDUSTRY UTILIZATION RATES IN CANADA TO
HAVE A
POSITIVE IMPACT ON CONTRACT PRICING

Source text for Eikon:  ID:nCNWLYXw1a 
Further company coverage:  OGD.TO 

 ((Reuters.Briefs@thomsonreuters.com;))