DAILY NEWS Nov 12, 2012 2:50 PM - 0 comments

Newalta reports strong Q3 results

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By: HazMat Staff
November 12, 2012 2012-11-12

Newalta Corporation is reporting solid financial results for the third quarter of 2012 with a four per cent increase year-over-year to $190.1 million.

According to Newalta, gross profit rose 9 per cent from the third quarter of 2011 due to a result of improved performance in onsite divisions driven by increased demand the company’s services.

Revenue and gross profit from facilities in the recent quarter were $101.7 million and $25.3 million, down 15 per cent and 10 per cent, respectively, from the third quarter of 2011.

Net earnings rose 29 per cent as a result of lower net finance charges and deferred income tax expense, financial data shows.In the fourth quarter of 2012, Newalta says “we anticipate year-over-year improvement in performance driven by continued growth in Onsite, higher SCL volumes, increased production at VSC and strong demand for our services in western Canada.”

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