VANCOUVER – Ridgeline Energy Services Inc. (TSXV:RLE) posted Friday a net loss of $ 500,000, or nil per share for the third-quarter of 2012, compared to net income of $ 200,000, or one cent per share for the prior-year period.
The Vancouver-based energy and environmental services company posted a gain in revenue of $ 2.4 million, or 80 per cent in third-quarter 2012 to $ 5.4 million for the period ended Dec. 2011, compared to $ 3 million in the same period a year earlier.
Net earnings were impacted by costs associated with hiring third-party services to increase the workforce for ongoing company operations.
Ridgeline’s gross profits increased 29 per cent to $ 1.8 million, from $ 1.4 million.
Operating expenses for the third-quarter were $ 1.9 million, a 51 per cent rise from the $ 1.3 million recorded during the same period of fiscal 2011.
Local news from metronews.ca/vancouver
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