Diversification Helps Norex Maintain Profits

摘要

Diversification into the United States, the oilsands sector and potash work helped Norex Exploration Services Inc. maintain a profit in the first three months of 2009. Despite its diversification, revenues fell 31% to $30.09 million from $43.62 million for the first quarter of 2008 while profits declined to $1.19 million (three cents per share) from $4.55 million (12 cents a share) a year earlier. The company said it successfully expanded its deployment of three component seismic data recording services, completing five jobs generating $5.4 million of revenue in the quarter ended March 31, 2009.