August 4, 2010 / 10:02 PM / 7 years ago

UPDATE 1-North American Energy posts Q1 loss on lower margins

* Q1 loss/shr C$0.29 vs EPS C$0.27 yr-ago

* Q1 rev up 25 pct to C$183.6 mln

Aug 4 (Reuters) - North American Energy Partners Inc NOA.TO (NOA.N), which provides construction and mining, piling and pipeline installation services, posted a quarterly loss hurt by lower margins.

However, the company said it expects margins to return to normal levels in its second quarter, and demand to strengthen gradually through the year.

For the quarter ended June 30, the company posted a net loss of C$10.3 million, or 29 Canadian cents a share, compared with net income of C$9.9 million, or 27 Canadian cents a share, a year ago.

Excluding items, the company had a net loss of 11 Canadian cents a share.

Revenue for the quarter rose 25 percent to about C$183.6 million.

Heavy Construction and Mining segment margins for the quarter were 13.6 percent, down from 17.8 percent in the corresponding quarter last year.

Analysts on average were expecting earnings of 8 Canadian cents a share, on revenue of C$199.5 million, according to Thomson Reuters I/B/E/S.

Shares of the company close at C$9.96 Wednesday on the Toronto Stock Exchange. Its New York-listed shares closed at $9.74. (Reporting by Arnika Thakur in Bangalore; Editing by Roshni Menon)

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