Canam Group (TSX: CAM) announced Thursday a net loss attributable to shareholders of $ 2 million or 4 cents per share for the fourth quarter compared to net income of $ 17.8 million or 39 cents per share in 2015.
Consolidated revenues for the fourth quarter were $ 486.5 million compared to $ 493.8 million for the same quarter in 2015.
In 2016, revenues reached $ 1.86 billion compared to $ 1.6 billion in 2015, an increase of $ 250 million or 15.6 per cent. This increase would come from all activities, but mainly bridge products and services.
The net loss attributable to shareholders in fiscal year 2016 was $ 13.3 million or 28 cents per share, compared to net income of $ 46.8 million or $ 1.09 per share last year.
The loss is mainly attributable to the recording of a $ 32 million after-tax provision in the second quarter of 2016 related to significant additional costs in a heavy metal structural design and the unfavorable impact of bridge projects in the United States, United.
Canam Group specializes in the design of integrated solutions and the manufacture of tailor-made products for the construction industry in North America.