November 9, 2011 / 10:50 PM / 7 years ago

UPDATE 1-Shawcor swings to a loss on weak pipeline segment

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Nov 9 (Reuters) - Shawcor Ltd SCLa.TO swung to a loss in the third quarter as lower margins in its pipeline segment and reduced project activity hurt the Canadian energy services company.

For the July-September period, Toronto-based Shawcor posted a net loss of C$3.1 million, or 4 Canadian cents a share, compared with earnings of C$32.1 million, or 45 Canadian cents a share, a year ago.

Revenue fell 4 percent to $271 million.

Shawcor plans to ramp up production at its major pipe coating facilities, which will likely drive up revenue and lead to better facility utilization in the fourth quarter, it said in a statement. (Reporting by Gowri Jayakumar in Bangalore; Editing by Supriya Kurane)

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