Norse Energy Corp ADR (NSEEY)

[reaper247]

NEC to cut operating costs

http://www.stocklink.no/Article.aspx?id=86172

Norse Energy announced today its results for the third quarter. The figures showed an EBITDA of $ -2,090,000. This is an improvement from the same quarter last year the profit was $ 4.15 million. The total revenue for the company totaled $ 4.18 million, a slight decrease from the $ 4.24 million in 2010. The company had to reduce operating costs, when the company experiencing major challenges in maintaining an adequate liquidity. Nevertheless, the company has great faith in the value of New York. Operating profit for the offshore company totaled $ -10.69 million. Although there are negative numbers, this is a big improvement from the $ -22.45 million from last year. Profit per share $ -0.01 per share, an improvement from 0.05 dollars per share last year.

IMO and FWIW.