Lockerbie and Hole Announces Fiscal 2009 Second Quarter Results

TSX: LH EDMONTON, Oct. 9 /CNW/ - Lockerbie & Hole Inc. (the "Company" or "Lockerbie") releases results for the three and six months ended August 31, 2008. > Overall Performance Net income for the Company was $5.2 million ($0.19 per share) for the three months ended August 31, 2008 compared to $5.9 million ($0.26 per share) for the three months ended August 31, 2007, a decrease of $0.7 million (11.9%). For the six months ended August 31, 2008 net income was $10.3 million ($0.37 per share) compared to $10.8 million ($0.51 per share) for the six months ended August 31, 2007, a decrease of $0.5 million (4.6%). Net income decreased from the previous year due to increased overhead expenses to prepare for increased project activity and lower margins as the Company's contract mix shifts towards lower margin, lower risk cost... [read full story]