UPDATE: Dalmac Energy 5% Lower Even As Income, Revenue Increase in Q2
Dalmac Energy Inc. (DAL.V), which closed the Friday session slightly below the 50-day SMA $0.44, opened higher today at 45 cents but has afterwards slipped nearly 5% to 41 cents, even after announcing its second quarter financial results for the 3 month period ended October 31, 2011.
The company said during the quarter, its net earnings jumped 30% to $859 thousand from $660 thousand in the previous year. This was after a 39% increase in revenues $8.2 million from last year's $5.9 million. Activity levels also began to pick up in August at a rate that is usually experienced in the winter season, the company added.
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