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Major Drilling Group Announces Record Quarterly Results

Major Drilling Group International Inc. (MDI.TO), which rose nearly 5% on Monday, reported results for its second quarter of fiscal year 2012, ended October 31, 2011. Net earnings were $31.6 million or $0.43 per share ($0.42 per share diluted) for the quarter, compared to net earnings of $11.3 million or $0.16 per share ($0.16 per share diluted) for the prior year quarter. This represents the highest quarterly earnings in the company's history. On average, five analysts polled by Thomson Reuters reportedly expected earnings of C$0.29 per share for the quarter. Analysts' estimates typically exclude special items.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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