Forum Energy: 2Q Earnings Snapshot
HOUSTON (AP) _ Forum Energy Technologies Inc. (FET) on Monday reported a loss of $15.3 million in its second quarter.
The Houston-based company said it had a loss of 14 cents per share. Losses, adjusted for one-time gains and costs, were 1 cent per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for a loss of 1 cent per share.
The provider of manufactured technologies and applied products in the energy sector posted revenue of $274 million in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $268.1 million.
Forum Energy shares have decreased 23 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $12.05, a fall of 11 percent in the last 12 months.