Thursday, June 14, 2007

Shermag posts smaller fourth-quarter loss

(Reuters) - Gross revenue fell 28.7 percent to C$34.1 million from
C$47.8 million, largely due to a "general softness" in the U.S.
market, the company said. Sales were also hit by foreign
exchange movements.




The latest quarter was hit by C$1.7 million in
restructuring costs, while the bigger year-ago loss included
C$19.5 million in severance expenses and other charges.


Read more at Reuters.com Market News

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