Critical Control Energy Services Corp. reported earnings results for the three months ended September 30, 2018. For the quarter, the company reported loss was $13.1 million for the third quarter 2018, compared to $1.2 million in the third quarter of 2017. The increased loss is attributed to $8.5 million impairment of intangible assets and goodwill, $3.5 million derecognition of deferred income taxes, $0.6 million in other expenses related to termination benefits, restructuring costs, and refinancing charges incurred by the Corporation in the third quarter of 2018. Adjusted EBITDA was $0.7 million for the third quarter of 2018 compared to $0.6 million in 2017. The increase from the prior comparative period of $0.1 million is attributed to reduced administrative expenditures offset by a decline in revenue.

Subsequent to the end of third quarter of 2018, the Corporation restructured its measurement business in the Southern United States, resulting in closure of its offices in Mounds, Oklahoma, Greenbriar, Arkansas and Cotulla, Texas. The impact of the closure of these offices and related staff is expected to increase earnings in 2019 and the associated costs will be expensed in fourth quarter of 2018.