CanElson reported revenue of $66 mm, beating our forecast of $58 mm, due to higher than expected activity and day rates in Canada. EBITDAS of $18 mm was higher than FCC ($14 mm) due to higher revenue. EBITDAS margin of 27% was higher than forecast, a testament to the Company’s realized costs savings. EPS of $0.06 was higher than our forecast of $0.03.
