Winnipeg, Manitoba-based steel fabricator Empire Industries Ltd. reported Thursday a net loss of $2 million in Q1 2011, compared to a net loss of $1.7 million for the same period in 2011. Revenues, however, rose from $17.3 million to $19.2 million over the same period.
"Our direct margins are on target, and our revenues have increased," said Guy Nelson, Chief Executive Officer of Empire Industries Ltd. "However, we have not yet achieved the sales volume we need to return to profitability in western Canada. As a consequence, the Company continues to aggressively assess the long term strategic importance of all its operations that face challenges on the competitiveness of their strategic offering in the marketplace."