May 10, 2010 / 11:06 AM / 8 years ago

UPDATE 1-Ensign Energy Q1 profit misses estimates

* Q1 EPS C$0.26 vs est C$0.30

* Q1 rev C$352.8 mln vs est C$373.4 mln

* Says international rev falls 24 pct

May 10 (Reuters) - Oilfield services provider Ensign Energy Services Inc (ESI.TO) posted first-quarter earnings that missed market estimates, hurt by lower pricing and a fall in revenue from its U.S. and international operations.

For the quarter ended March 31, the company’s net income fell to C$40 million, or 26 Canadian cents a share, from C$72.7 million, or 47 Canadian cents, a year ago.

Revenue fell 12 percent to C$352.8 million.

    Analysts on average were expecting earnings of 30 Canadian cents a share on revenue of C$373.4 million.

    Revenue from the company’s U.S. operations fell 19 percent to C$104 million, while international revenue dropped 24 percent to C$70 million, primarily due to the strengthening of the Canadian dollar.

    Shares of the company closed at C$13.31 Friday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Maju Samuel)

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