Armtec Infrastructure Inc., (TSX:ARF) a Guelph, Ontario-based construction materials and engineering firm, announced this week its revenues for the first quarter increased year-over-year by 4.8 per cent but it lost $13.27 million during the three months ending March 31, 2011.
Armtec Infrastructure Inc., (TSX:ARF) a Guelph, Ontario-based construction materials and engineering firm, announced this week its revenues for the first quarter increased year-over-year by 4.8 per cent but it lost $13.27 million during the three months ending March 31, 2011.
It attributed the drop in margins to several factors, including the complex nature of recent projects, lower margins on bids during the recession and a late, wet spring.
Revenue for the three months ending March, 31, 2011 was $74.975 million, compared to $71.556 million during the same period in 2010.
Its loss during the three months ending March 31, 2010 was $10.6 million.
Armtec’s products include concrete bridges, retaining walls, pipe, guardrail, drainage and soil retention.
DCN DIGITAL MEDIA
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