October 27, 2011
Boucherville, Quebec construction firm Canam returns to profitability
Canam Group Inc. (TSX: CAM), a Boucherville, Quebec construction designer and fabricator, announced Thursday its net earnings for the three months ending September 25, 2011 were $9.742 million on revenues of $225.599 million.
During the same period in 2010 the company made $2.401 million on revenues of $207.061 million.
For the first nine months of 2011, Canam lost $35.796 million on revenues of $594.709 million.
In August, Canam reported a net loss of $5.8 million , which it attributed at the time to reduced margins and cost overruns at B.C. Place stadium.
The company said sales growth in the third quarter was mainly attributable to its joist and steel deck activities.
Canam said Thursday its order backlog as of September 24, 2011 stood at $526 million, up from $512 million as at June 25, 2011.
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