Cabo Drilling Corp. reported consolidated earnings results for the third quarter and nine months ended March 31, 2015. For the quarter, the company reported revenue of CAD 2.975 million compared to CAD 4.806 million a year ago. The primary reason for the decrease is due to reduced global demand for drilling, particular in Europe, as a result of projects being scaled back, delayed, terminated, or political country pressure. LBITDA was CAD 0.127 million compared to CAD 0.563 million a year ago. Net loss after taxes were CAD 0.748 million or CAD 0.01 per share compared to CAD 1.937 million or CAD 0.02 per share a year ago. Cash used in operations was CAD 0.434 million against CAD 0.874 million for the same period a year ago.

For the nine months, the company reported revenue of CAD 10.643 million compared to CAD 18.277 million a year ago. LBITDA was CAD 0.028 million compared to CAD 562 million a year ago. Net loss after taxes were CAD 2.174 million or CAD 0.03 per share compared to CAD 3.745 million or CAD 0.05 per share a year ago. Cash used in operations was CAD 0.510 million against CAD 1.141 million for the same period a year ago.