SNC Lavalin reports $17.3M first quarter loss, revenue down from year ago 

MONTREAL- SNC-Lavalin Group Inc. reported a loss in its first quarter compared with a profit a year ago as its revenue edged lower.

The engineering and construction firm says it lost $17.3 million or 10 cents per share for the quarter ended March 31. That compared with a profit of $78.1 million or 44 cents per share in the first quarter of last year.

Revenue totalled $2.36 billion, down from $2.43 billion a year ago.

On an adjusted basis, SNC said it earned 21 cents per share for the quarter compared with an adjusted profit of 77 cents per share a year earlier.

The results included an adjusted loss of eight cents in its engineering and construction business, while its capital investments business earned 29 cents per share in its most recent quarter.

That compared with an adjusted profit of 51 cents from the engineering and contraction side a year ago, while the capital investments business earned 36 cents per share.