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Maxim Power posts Q2 net loss of C$4.1M

Maxim Power Corp. Corp. on Aug. 7 reported a net loss of C$4.1 million, or 8 Canadian cents per share, in the 2019 second quarter, compared to net income of C$2.8 million, or 5 Canadian cents per share, in the prior-year period.

The company said the result was driven by a reduction in enacted provincial rates in 2019 and the non-reoccurrence of a 2018 income tax benefit.

Second-quarter revenue improved year over year to C$6.7 million from C$2.1 million a year ago.