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Ezion’s 3Q earnings sink 69% to US$9 mil on lower revenue

Michelle Zhu
Michelle Zhu11/10/2016 08:49 AM GMT+08  • 2 min read
Ezion’s 3Q earnings sink 69% to US$9 mil on lower revenue
SINGAPORE (Nov 10): Ezion Holdings posted a 69.1% decline in 3Q earnings to US$9.4 million ($13.2 million), about a third of the US$30.4 million reported in the same quarter a year ago on lower revenue.
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SINGAPORE (Nov 10): Ezion Holdings posted a 69.1% decline in 3Q earnings to US$9.4 million ($13.2 million), about a third of the US$30.4 million reported in the same quarter a year ago on lower revenue.

Revenue for the quarter was down 7.4% at US$79.8 million compared to US$86.2 million in 3Q15.

This was mainly due to modifications and routine class surveys conducted on the group’s service rigs; a reduction in charter rates; and the postponement of the commencement of a customer’s project, which resulted in the delay of the deployment of several service rigs.

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