Brief: Bri-Chem posts Q2 loss $1.4 mln vs earnings of $372,895 last year
11/08/2016 23:19
Aug 11 (Reuters) - Bri-Chem Corp BRY.TO
* Bri-Chem announces second quarter 2016 financial results
* Bri-Chem Corp -"expect an overall North American increase
in activity levels for second half of year"
* Bri-Chem Corp says "steps will continue to be implemented
to right-size company's operations in all business segments in
response to customer demand"
* Bri-Chem Corp - Q-O-Q revenue decrease is result of
significant decline in rig activity in USA, early and prolonged
spring break up in Western Canada
* Qtrly net loss was $1.4 million compared to net earnings
of $372,895 for same period of 2015
* Bri-Chem - qtrly consolidated revenues from North American
oil and gas drilling fluids distribution, blending and packaging
businesses down 62.2 pct to $8.2 million
* Bri-Chem-Co's "right-sizing" efforts that commenced in
2015 continued into H1 of 2016, now reduced senior operating
debt down to $10.0 million
Source text for Eikon: ID:nCCN8HmMpX
Further company coverage: BRY.TO
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