Enservco reports net loss for Q4

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12 April 2016, Oil, Gas

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Revenues for the fourth quarter ended December 31, 2015 were $8.63 million, compared to $18.28 million for the same quarter ended December 31, 2014.

Net loss for the year ended December 31, 2015 was $1.26 million, or $0.03 loss per diluted share, compared to a net income of $4 million, or $0.10 per diluted share, for the year ended December 31, 2014.

Revenues for the year ended December 31, 2015 were $38.78 million, compared to $56.56 million for the year ended December 31, 2014.

"Despite the perfect storm of reduced oilfield service activity due to declining oil prices throughout 2015, the warming impact of one of the most powerful El Nino conditions on record and lower propane prices, ENSERVCO continued to outperform many of its peers by generating positive EBITDA and solid cash flow for the year," said Rick Kasch, chairman and CEO."

Source: MarketLine

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