Cabo Drilling Corp. reported consolidated earnings results for the third quarter and nine months ended March 31, 2014. For the quarter, the company reported revenue of CAD 4.806 million compared to CAD 10.616 million a year ago. The primary reason for the decrease is due to reduced demand for drilling in all market areas where Cabo has operations, as a result of projects being scaled back, delayed or terminated. LBITDA was CAD 0.563 million or CAD 0.00 per basic and diluted share compared to EBITDA CAD 1.071 million or CAD 0.01 per basic and diluted share a year ago. Net loss after taxes were CAD 1.937 million compared to net income after tax of CAD 0.020 million a year ago. Cash from operations was CAD 0.036 million against CAD 0.840 million for the same period a year ago.

For the nine months, the company reported revenue of CAD 18.277 million compared to CAD 33.619 million a year ago. LBITDA was CAD 0.562 million or CAD 0.00 per basic and diluted share compared to EBITDA CAD 3.527 million or CAD 0.04 per basic and diluted share a year ago. Net income after taxes were CAD 3.745 million compared to CAD 0.145 million a year ago. Cash from operations was CAD 0.858 million against CAD 2.281 million for the same period a year ago.