Divestco Inc. Announces Earnings Results for the First Quarter Ended March 31, 2017
Divestco Inc. announced earnings results for the first quarter ended March 31, 2017. For the quarter the company announced revenue of CAD 3,981,000 compared to CAD 3,137,000 a year ago. The increase was mainly due to higher Seismic Data segment revenue related to the completion of a new seismic survey. EBITDA was CAD 1,062,000 compared to CAD 393,000 a year ago. Net loss was CAD 2,394,000 or CAD 0.04 per basic and diluted share compared to CAD 1,394,000 or CAD 0.02 per basic and diluted share a year ago. Funds from operations were CAD 485,000 or CAD 0.01 per basic and diluted share compared to CAD 397,000 or CAD 0.01 per basic and diluted share a year ago.