BH Global Marine, the group providing electrical products and solutions to the Marine & Offshore and Oil & Gas industries, posted a quarterly net loss for the three months ended 30 September 2012 (3Q2012) of $3.5 million in 3Q2012, or a loss per share of 0.72 cents.
Revenue declined 7% to $31.2 million in 3Q2012. Supply Chain Management, the group’s core business, raked in $15.7 million worth of sales, as compared to $15.4 million a year ago.
Gross profit declined to $2.5 million and gross profit margin reduced to 8% in 3Q2012 as compared to $10 million and 30% in 3Q2011 respectively. These were largely due to poor performance of the Engineering Service business division.
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