05:24 PM EST, 11/03/2025 (MT Newswires) -- AKITA Drilling (AKT-A.TO) after trade Monday said its third-quarter profit rose while revenue declined year-over-year, mainly due to weaker performance in its U.S. segment.

The company earned $1.6 million, or $0.04 per share, in the period, up from $1.1 million, or $0.03, in the year-ago quarter. FactSet expected $0.02 per share.

AKITA said that the increase was mainly due to stronger performance in its Canadian operations and lower selling and administrative expenses, partly offset by weaker results in its U.S. segment.

Revenue fell to $44.6 million from $45.8 million a year ago. FactSet projected $48 million.

"The third quarter was challenging for the company, with industry-wide activity in the US continuing to decline and several programs in Canada delayed," Chief Executive Colin Dease said.

"Looking ahead, the fourth quarter and early part of next year are expected to be very active for our Canadian fleet, while activity in our US fleet is not showing signs of recovery until the first quarter of 2026," he added.

Akita's Class A shares closed up $0.04 to $2.12 on the Toronto Stock Exchange.