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Maxim Power swings to profit in Q4'18

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Maxim Power swings to profit in Q4'18

Maxim Power Corp. on March 18 reported net income attributable to shareholders of C$8.8 million, or 17 Canadian cents per share, in the 2018 fourth quarter, compared with a net loss attributable to shareholders of C$12.5 million, or 23 Canadian cents per share, in the comparable quarter of 2017.

Revenue was C$9.8 million, improving from no revenue in the 2017 fourth quarter.

For the full year, Maxim Power posted net income attributable to shareholders of C$4.4 million, or 8 Canadian cents per share, a drop from C$18.5 million, or 34 Canadian cents per share, in the previous year.

Full-year revenue grew to C$19.7 million in 2018, from C$2.0 million in 2017.