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 companys 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 6262477 3213568 16481275 3213568 7669880 Drilling Canada underground 12215596 7739837 31187804 13466290 23607214 Drilling other countries surface 1359362 1254130 6074952 1254130 4089851 Manufacturing Canada 2233551 919900 3758926 919900 1365875 22070986 13127435 57502957 18853888 36732820 Gross profit Drilling Canada surface 2338803 1107055 5936834 1107055 2192112 Drilling Canada underground 3866722 1514333 9713881 2953637 5725753 Drilling other countries surface 500717 830415 3048455 830415 2311779 Manufacturing Canada 809450 327603 1380754 327603 371018 7515692 3779406 20079924 5218710 10600662 Interest 524198 401667 1480692 606091 1062663 General corporate expenses 2971615 2348103 8533954 3528978 6454648 Income taxes 1195959 392323 2104786 423642 1184258 4691772 3142093 12119432 4558711 8701569 Net earnings 2823920 637313 7960492 659999 1899093 Identifiable assets Canada 79481027 79481027 65522410 Other countries 7067087 7067087 6626152 86548114 86548114 72148562 Capital assets Canada 17412996 17412996 16375814 Other countries 2812626 2812626 2236398 20225622 20225622 18612212 Amortization Canada 1548719 1378993 4634194 2308510 4023783 Other countries 67575 45989 242653 45989 114973 1616294 1424982 4876847 2354499 4138756 18 SUB SEQUENT EVENTS a Longterm debt On April 30 2008 the company contracted a longterm debt in the amount of 1200000 This longterm debt will bear interest at 625 and will be payable by quarterly payments of 43000 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 7505006 offered shares are being issued and sold by the company at a price of 400 per offered share for gross proceeds to t he company of 300 million F25