April 27, 2011 / 10:16 PM / in 6 years

UPDATE 1-Flint Energy sees Q1 loss on adverse weather, project delays

* Sees Q1 loss/shr C$0.08-C$0.14

* Says results hurt by adverse weather and project delays (Follows alerts)

April 27 (Reuters) - Canadian oilfield service firm Flint Energy Services Ltd’s said it expects to report a first-quarter loss, hurt by adverse weather and project delays in its production services segment.

Flint sees loss per share of 8-14 Canadian cents, and said production services in both Canada and the United States experienced significant quarter-over-quarter declines in revenue and EBITDA.

“A very weak January and first half of February resulted in midstream activity levels below that typically expected in the first quarter,” CEO W Lingard said in a statement.

Flint had reported a net income of C$17.7 million, or 38 Canadian cents a share, in the first quarter of 2010.

Shares of the Calgary, Alberta-based company closed at C$16.20 on Wednesday on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore;Editing by Vyas Mohan)

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