High Arctic Energy Services Swings to Q4 Loss on Depreciation Expenses

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High Arctic Energy Services Swings to Q4 Loss on Depreciation Expenses

, MT Newswires - 9:39 AM ET 3/31/2025 default

09:39 AM EDT, 03/31/2025 (MT Newswires) -- High Arctic Energy Services ( HGHAF ) on Monday reported a swing to a fourth-quarter loss but revenue rose.

The company reported a net loss of $715,000 or $0.06 per share, compared with a profit of $219,000 or $0.02 per share, in the prior year period. Net loss from continuing operations was due to higher depreciation and amortization expenses.

Revenue from continuing operations increased 136% to $2.4 million. The increase is primarily due to the Delta acquisition in the fourth quarter of 2023, which the company says it has successfully integrated.

High Arctic was last seen down $0.10, to $1.07 on the Toronto Stock Exchange.

Price: 1.07, Change: -0.10, Percent Change: -8.55

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