Cabo Drilling Corp. reported earnings results for the second quarter and six months ended December 31, 2014. For the quarter, the company's revenue was CAD 3.8 million compared with CAD 6.8 million a year ago. The primary reason for the decrease is due to reduced global demand for drilling, as a result of projects being scaled back, delayed or terminated. EBITDA was CAD 0.06 million compared with LBITDA of CAD 0.05 million a year ago. Net loss after tax was CAD 0.66 million or CAD 0.01 per basic share compared with CAD 0.99 million or CAD 0.01 per basic share a year ago. Cash from operations was negative at CAD 0.07 million compared with CAD 0.21 million a year ago.

For the six months, the company's revenue was CAD 7.7 million compared with CAD 13.5 million a year ago. EBITDA was CAD 0.099 million compared with CAD 0.001 million a year ago. Net loss after tax was CAD 1.43 million or CAD 0.02 per basic share compared with CAD 1.8 million or CAD 0.02 per basic share a year ago. Cash from operations was negative at CAD 0.08 million compared with CAD 0.27 million a year ago.