February 9, 2017 / 11:08 AM / 9 months ago

Precision Drilling posts smaller quarterly loss

Feb 9 (Reuters) - Canadian rig contractor Precision Drilling Corp posted a smaller quarterly loss from a year earlier, when it recorded one-time charges of about C$369 million.

The company’s net loss narrowed to C$31 million ($23.6 million), or 10 Canadian cents per share, in the fourth quarter ended Dec. 31, from C$271 million, or 93 Canadian cents per share, a year earlier.

Revenue fell 17.7 percent to C$283.9 million, the company said on Thursday. ($1 = 1.3124 Canadian dollars) (Reporting by Vishaka George in Bengaluru; Editing by Sriraj Kalluvila)

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