09:48 AM EST - Ensign Energy Services Inc. : posted third-quarter net income of $16.9 million or $0.11 per share, down from $72.1 million or $0.47 per share in the third quarter of 2008. Adjusted net income for the third quarter was $16.4 million or $0.11 per share, down from $61.0 million or $0.39 per share for the third quarter of 2008. Funds from operations for the quarter were $55.67 million or $0.36 per share, compared to $90.45 million or $0.58 per share in the same quarter last year. Revenue for the third quarter was $232.5 million, down 47% from the $435.2 million for the third quarter of the prior year. The company now expects 2009, projected net income per share of $0.39 - $0.41 compared with its prior range of $0.41 - $0.43. Projected funds from operations are currently projected to be in the range of $153.9 million - $157.3 million compared with its previous range of $152.7 million - $158.0 million. Projected funds from operations per share for the year are now anticipated to be in the range of $1.64 - $1.67 compared with its earlier range of $1.63 - $1.68. Ensign Energy Services Inc.
shares T.ESI are trading up $0.04 at $16.02.
