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BRIEF-Strad Energy Services Q3 loss per share C$0.55

Published 2015-11-04, 01:59 a/m
© Reuters.  BRIEF-Strad Energy Services Q3 loss per share C$0.55
SDY
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Nov 3 (Reuters) - Strad Energy Services Ltd SDY.TO :
* Announces third quarter results and suspension of quarterly dividend
* Q3 loss per share C$0.55
* Q3 revenue fell 56 percent to C$25.3 million
* Says since the end of 2014, Strad has reduced its employee headcount by
nearly 140 staff or more than 40%
* Says expects to realize the full benefit of the most recent cost reductions
in the fourth quarter of 2015
* Low commodity prices continued to produce marked decline in industry drilling
rig activity across most basins in North America"
* Expects activity levels to remain low until such time that commodity prices
stabilize
* Maintenance capex requirement in 2015 and 2016 is anticipated to be managed
at or below $5 million per year in this environment
* Qtrly FFO C$0.11 per share
* Source text for Eikon ID:nCCN4p0gQK

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