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Stratum Holdings Inc. (OTCBB: STTH.OB) posted a third-quarter loss of $4.3 million compared with net income of $1,047 in the same period last year. However, third-quarter revenue rose 40.2% to $17.4 million at the Houston-based provider of petroleum engineering staffing and oil and gas production. The company listed a $7.0 million noncash impairment in the value of its oil and gas properties in the third quarter.
Staffing services third-quarter revenue at the firm rose 46.6% to $16.5 million compared with $11.3 million in the same period last year. Stratum has since sold its construction staffing subsidiary.
Stratum Holdings Inc. (OCTBB: STTH.OB)
For the quarter ended Sept. 30, 2007, compared with the same period in the previous year.
Revenue: $17.4 million, +40.2%Net loss: $4.3 million vs. net income of $1,047