Winnipeg, Manitoba-based Empire Industries Ltd., a designer and fabricator of structural steel, reported Friday that Q2 2011 revenues increased to $22.1 million, from $18.7 million in Q2 2010. However, the company still recorded a net loss of $1.6 million in Q2 2011, compared to a net loss of $2.6 million in Q2 2010.
"Our revenues have increased, and our indirect and fixed costs have been reduced," said Guy Nelson, Chief Executive Officer of Empire Industries Ltd. "We are aggressively pursuing additional sales and higher margin jobs needed to return to profitability. We expect additional revenue and profit growth driven by our media attractions business, our First Nations joint venture in the oil sands maintenance business, and our Chinese joint venture. Our steel fabrication and construction business in western Canada is also expected to obtain higher margin jobs as a result of the expected recovery of industrial and infrastructure spending."