Koil Energy Solutions Inc. (KLNG)

[JoeSmith]

This news came up on a trader program today. It is a repeat but is stated differently.

Deep Down Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2009 05/15 10:39 AM



Deep Down Inc. (DPDW:$0.12,00$-0.01,00-7.69%) announced unaudited consolidated earnings results for the first quarter ended March 31, 2009. For the quarter, the company's revenues were $7,102,589, compared to $6,279,465 for the first quarter of 2008, for a 13.1% increase. The increase in revenues included $2.6 million from the acquisition of Flotation Technologies. Net loss for the quarter was $729,775 as compared to a net loss of $89,477 for the same period of 2008. Operating loss was $946,072 compared with operating income of $342,698 for the prior year quarter. Loss before income taxes was $995,098 compared with $358,813 for the prior year quarter. Net cash provided by operating activities was $3,935,526 compared with net cash used in operating activities of $543,444 for the prior year quarter. The company announced equipment purchases of $1,428,114 compared with $156,958 for the prior year quarter. The first quarter loss included a net loss from Flotation Technologies of approximately $300,000.