Ensign Energy Q3 Profit Down 30%

Ensign Energy Services

reported a 30% drop in its third-quarter profit. Ensign's quarterly net income declined to C$44.8 million, or 29 Canadian cents a share, versus C$64 million, or 42 Canadian cents a share, in the year-ago period. Excluding one-time items, Ensign earned 31 Canadian cents a share, beating analysts' estimates of 30 Canadian cents a share. Its revenue climbed 10% to C$525.7 million. However, its expenses surged 16% to C$451.3 million. Ensign shares closed at $14.42 on Friday.