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Petrowest posts Q4 loss as weather affects revenue; 2012 still ends with profit
CALGARY - Petrowest Corp. (TSX:PRW) had a $5.2-million loss in the fourth quarter but the construction and oilfield services provider ended 2012 in the black.
Revenue fell to $41.9 million in the fourth quarter from $53.3 million a year earlier.
Adverse weather affected revenue in Petrowest's construction and civil divisions' while completion of a project reduced revenue in its transportation division.
The full-year profit was $4.8 million in 2012, compared with a $27.7 million a year earlier. Full-year revenue rose 3.4 per cent to $196.5 million from $190 million in 2011.
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