Petrowest posts Q4 loss as weather affects revenue; 2012 still ends with profit

CALGARY – Petrowest Corp. (TSX:PRW) had a $5.2-million loss in the fourth quarter but the construction and oilfield services provider ended 2012 in the black.

Revenue fell to $41.9 million in the fourth quarter from $53.3 million a year earlier.

Adverse weather affected revenue in Petrowest’s construction and civil divisions’ while completion of a project reduced revenue in its transportation division.

The full-year profit was $4.8 million in 2012, compared with a $27.7 million a year earlier. Full-year revenue rose 3.4 per cent to $196.5 million from $190 million in 2011.