June 15, 2011
Pure Technologies takes hit on Libya pipeline project
CALGARY
Pure Technologies Ltd.(TSX:PUR), a Calgary company which provides monitoring of pipelines and other infrastructure, widened its net loss in the first quarter to $5 million from $1.9 million.
The company said it had a revenue shortfall of $11.5 million caused by the deferral of an equipment shipment to Libya’s Great Man-Made water supply project and interruption in service, combined with one-time restructuring costs related to the project. Revenue in the quarter rose 36 per cent to $7.8 million from $5.7 million.
Canadian Press
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