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Construction engineering consulting firm Genivar reports revenue increase

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by Daily Commercial News

Genivar Inc. (TSE:GNV), a Montreal construction engineering services firm, announced its annual revenues increased 14 per cent from 2009 to 2010. Genivar said its net earnings declined from $31.093 million to $30.839 million.

Genivar Inc. (TSE:GNV) of Montreal announced its financial results Wednesday. The construction engineering services firm said annual revenues increased 14 per cent from 2009 to 2010 but annual net earnings declined from $31.093 million to $30.839 million.

Fourth-quarter earnings dropped 64 per cent, to $2.933 million in 2010 from $8.191 million during the same period in 2009. Revenues increased both year-over-year and for the fourth quarter. For the full year, revenue was $580.4 million last year, compared to $477.9 million in 2009. For the three months ending Dec. 31, revenue was $135 million in 2009 and $154.7 million in 2010.

Genivar's projects include wind farms, mines, academic buildings and municipal infrastructure.

DCN DIGITAL MEDIA

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