ORBIT GAR ANT DRILLING INC. NOTES TO THE CONSOLID A TED FINANCIAL ST A TEMENTS (Continued) (Amounts as at March 31, 2008 and for the nine and three months ended March 31, 2008 and for the six and three months ended March 31, 2007 are unaudited) 17. SEGMENTED INFORMA TION (Continued) segments are essentially the same. The accounting policies of the segments are the same as those described in Note 4. Managemen t evaluates performance based on gross profit in these four geographic segments before interest, general corporate expenses and i ncome taxes. Data relating to each of the company’s reportable segments is presented as follows: March 31, March 31, March 31, March 31, June 30, 2008 2007 2008 2007 2007 (3 months) (3 months) (9 months) (6 months) (9 months) (unaudited) (unaudited) (unaudited) (unaudited) $$$$$ Contract revenue Drilling Canada — surface .................. 6,262,477 3,213,568 16,481,275 3,213,568 7,669,880 Drilling Canada — underground .............. 12,215,596 7,739,837 31,187,804 13,466,290 23,607,214 Drilling other countries — surface ............. 1,359,362 1,254,130 6,074,952 1,254,130 4,089,851 Manufacturing Canada .................... 2,233,551 919,900 3,758,926 919,900 1,365,875 22,070,986 13,127,435 57,502,957 18,853,888 36,732,820 Gross profit Drilling Canada — surface .................. 2,338,803 1,107,055 5,936,834 1,107,055 2,192,112 Drilling Canada — underground .............. 3,866,722 1,514,333 9,713,881 2,953,637 5,725,753 Drilling other countries — surface ............. 500,717 830,415 3,048,455 830,415 2,311,779 Manufacturing Canada .................... 809,450 327,603 1,380,754 327,603 371,018 7,515,692 3,779,406 20,079,924 5,218,710 10,600,662 Interest ............................... 524,198 401,667 1,480,692 606,091 1,062,663 General corporate expenses ................... 2,971,615 2,348,103 8,533,954 3,528,978 6,454,648 Income taxes ............................ 1,195,959 392,323 2,104,786 423,642 1,184,258 4,691,772 3,142,093 12,119,432 4,558,711 8,701,569 Net earnings ............................ 2,823,920 637,313 7,960,492 659,999 1,899,093 Identifiable assets Canada .............................. 79,481,027 — 79,481,027 — 65,522,410 Other countries ......................... 7,067,087 — 7,067,087 — 6,626,152 86,548,114 — 86,548,114 — 72,148,562 Capital assets Canada .............................. 17,412,996 — 17,412,996 — 16,375,814 Other countries ......................... 2,812,626 — 2,812,626 — 2,236,398 20,225,622 — 20,225,622 — 18,612,212 Amortization Canada .............................. 1,548,719 1,378,993 4,634,194 2,308,510 4,023,783 Other countries ......................... 67,575 45,989 242,653 45,989 114,973 1,616,294 1,424,982 4,876,847 2,354,499 4,138,756 18. SUB SEQUENT EVENTS a) Long-term debt On April 30, 2008, the company contracted a long-term debt in the amount of $1,200,000. This long-term debt will bear interest at 6.25% and will be payable by quarterly payments of $43,000 plus interest. b) Initial public offering On June 20, 2008, the company filed a prospectus relating to the initial public offering (‘‘the offering’’) of its common share s. 7,505,006 offered shares are being issued and sold by the company at a price of $4.00 per offered share for gross proceeds to t he company of $30.0 million. F-25