BRIEF-Bri-Chem posts Q2 loss $1.4 mln vs earnings of $372,895 last year

Thu Aug 11, 2016 6:44pm EDT
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Aug 11 (Reuters) - Bri-Chem Corp

* Bri-Chem announces second quarter 2016 financial results

* Bri-Chem Corp -"expect an overall North American increase in activity levels for second half of year"

* Bri-Chem Corp says "steps will continue to be implemented to right-size company's operations in all business segments in response to customer demand"

* Bri-Chem Corp - Q-O-Q revenue decrease is result of significant decline in rig activity in USA, early and prolonged spring break up in Western Canada

* Qtrly net loss was $1.4 million compared to net earnings of $372,895 for same period of 2015

* Bri-Chem - qtrly consolidated revenues from North American oil and gas drilling fluids distribution, blending and packaging businesses down 62.2 pct to $8.2 million

* Bri-Chem-Co's "right-sizing" efforts that commenced in 2015 continued into H1 of 2016, now reduced senior operating debt down to $10.0 million Source text for Eikon: Further company coverage: