Tuscany International Drilling Inc. (TID.TO) Thursday said fourth-quarter funds from operations dropped to $8.50 million or $0.02 per share from $7.39 million or $0.03 per share in the same period last year.
Net loss for the quarter widened to $35.93 million or $0.10 per share from $4.09 million or $0.02 per share last year.
Revenues totaled $75.84 million, down 20 percent from $94.39 million last year.
Gross margin dropped to 20.6 percent from 34.1 percent last year.
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