February 2, 2012 / 10:50 PM / 6 years ago

UPDATE 1-North American Energy Partners swings to Q3 loss

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Feb 2 (Reuters) - - Canada’s North American Energy Partners Inc posted a third-quarter loss, hurt by a writedown on a contract with Canadian Natural Resources Ltd .

North American Energy, which provides mining and pipeline installation services to oil sands operators, posted a net loss of C$1.9 million, or 5 Canadian cents a share, compared with a profit of C$3.7 million, or 10 Canadian cents a share, a year ago.

The company expects to take C$40 million to C$45 million in writedown by the end of fiscal in March 31 due to a halt in production at Canadian Natural’s Horizon project in Alberta after a fire early last year.

Revenue grew 7 percent to C$284.6 million, helped by an about 38 percent rise at its piling segment offsetting some customer losses. (Reporting by Aftab Ahmed in Bangalore; Editing by Sriraj Kalluvila)

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