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Photo: The Canadian Press
Trainee Kyle Robinson, left, talks with instructor Clint Dyck while training to lay down drill pipe on a rig floor at Precision Drilling in Nisku, Alta.
Precision Drilling Corp. says it earned a profit in its latest quarter compared with a loss a year ago as its revenue improved eight per cent.
The company says it earned $25 million or eight cents per diluted share for the quarter ended March 31.
That compared with a loss of $18.1 million or six cents per diluted share in the same quarter a year ago.
Revenue for the three-month period grew to $434 million, compared with $401 million.
Excluding sale of drilling assets in Mexico and restructuring charges, Precision Drilling says it earned $1 million or zero cents per diluted share in the quarter.
Analysts on average had expected a loss of five cents per share and revenue of $408.6 million for the quarter, according to Thomson Reuters Eikon.
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