Critical Control Energy Services Corp. Announces Earnings Results for the First Quarter Ended March 31, 2017
Critical Control Energy Services Corp. announced financial results for the first quarter ended March 31, 2017. For the quarter, the company’s revenue declined to $7.6 million in 2017 compared to $9.0 million in 2016, a 15.6% overall decline. The Corporation's recurring revenue from its Services business remained relatively steady generating $2.9 million in revenue in 2017, a 12.4% decrease from the previous period. The Corporation's loss before tax dropped to less than $0.1 million from a loss of $1.4 million in 2016. This change was a result of decreased general and administrative costs in 2017 compared to results from 2016 which included a $0.3 million one-time reorganization expenses and a $0.7 million foreign currency loss.