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Asset-sale loss hits Sherritt results Add to ...

Sherritt International Corp. , a miner and energy producer in Canada, Cuba and elsewhere, reported a first quarter net loss of $42.9-million, reversing net profit of $89-million in the same period last year.

The company said Wednesday it lost 15 cents a share for the three months ended March 31, compared with profit of 38 cents a share a year earlier.

The red ink reflects an after-tax loss of $57.4-million on the disposal of some of the company's Cuban oil and gas assets.

Revenue in the quarter rose to $349-million from $314.2-million.

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