August 4, 2009 / 10:21 PM / 9 years ago

UPDATE 1-Canada's Pason Systems posts Q2 loss

* Q2 loss/shr C$0.11 vs EPS C$0.08 year-ago

* Q2 rev down 59 pct to C$22.3 mln

Aug 4 (Reuters) - Pason Systems Inc (PSI.TO), a provider of specialized rental oilfield instrumentation systems, posted a second-quarter loss, mainly on declining drilling activity in the United States and Canada.

In the latest quarter, the company reported a loss of C$8.7 million, or 11 Canadian cents a share, compared with a profit of C$6.5 million, or 8 Canadian cents a share, a year ago.

Revenue for the quarter fell 59 percent to C$22.3 million.

Shares of the company closed at C$9.72 Tuesday on the Toronto Stock Exchange.

Reporting by Ashutosh Joshi in Bangalore; Editing by Unnikrishnan Nair

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