Harvest Energy Trust reports Q1 loss of $346,000 on $1.38 billion in revenue

Published Wednesday May 7th, 2008

THE CANADIAN PRESS

CALGARY - Harvest Energy Trust (TSX:HTE.UN) said Wednesday it lost $346,000 in its first quarter, weighed down by a $60.9-million charge for an unrealized loss from risk management activities.

The trust said it broke even on a per share bases for the three months ended March 31 compared with a profit of $69.9 million or 55 cents per unit a year ago.

Revenue in the quarter totalled $1.38 billion, up from $1.03 billion.

Units in the trust, which reported its results after the close of markets, were up 41 cents at $23.44 on the Toronto Stock Exchange on Wednesday.

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