AKITA Drilling Ltd. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was CAD 53.53 million compared to CAD 29.91 million a year ago. Net income was CAD 2.66 million compared to net loss of CAD 6.43 million a year ago. Basic earnings per share from continuing operations was CAD 0.07 compared to basic loss per share from continuing operations of CAD 0.16 a year ago. Diluted earnings per share from continuing operations was CAD 0.07 compared to diluted loss per share from continuing operations of CAD 0.16 a year ago.
For the nine months, sales was CAD 141.47 million compared to CAD 75.73 million a year ago. Net loss was CAD 4.53 million compared to CAD 16.19 million a year ago. Basic loss per share from continuing operations was CAD 0.11 compared to CAD 0.41 a year ago. Diluted loss per share from continuing operations was CAD 0.11 compared to CAD 0.41 a year ago.