Canadian firms report reduced first quarter financial results

Marilyn Radler, Economics EditorLaura Bell, Statistics EditorA stronger Canadian dollar relative to the US dollar appears to have suppressed the first quarter earnings of most of the companies based in Canada that OGJ sampled. While production volumes may have been higher, realizations declined.Collectively, the 17 Canadian producers, transporters, and service and supply companies in the group earned 27% less during the first 3 months, against 2% lower revenues, as compared with the same 2003 period. Click here to enlarge imageAll results are reported in Canadian dollars, and all companies profiled here are based in Calgary.IntegratedPetro-Canada reported net income of $513 million for t...

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