Forum Cuts Q3 Loss

Forum Energy Technologies recorded loss in the third-quarter 2018 of $3 million, or 3 cents per diluted share, compared to net loss of $15 million, or 14 cents per diluted share, for the prior-year comparable period.

Sequentially, Forum narrowed its losses, also from loss of 15 cents per share, despite revenue drop of $7 million.

The Q3 2018 result before special items was profit of 3 cent per share.

The Houston-based oilfield products company generated revenue for the quarter ended September 30, 2018 of $267 million, compared to $199 million in the corresponding period in 2017. Sequentially, revenue decreased from $274 million.

The company said it had ended Q3 2018 with $246 million of total liquidity.

For the first nine months of 2018, Forum generated profit of close to $10 million on revenue of $791 million, versus loss of $108 million on revenue of $571 million for the corresponding period in 2017.

Subsea World News Staff

Share this article

Follow Subsea World News

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Offshore Energy Exhibition & Conference 2019

Offshore Energy thematic sessions addressed the full life-cycle in the oil and gas and energy industry, starting with Exploration…

read more >

EXPLORATION AND PRODUCTION OFFSHORE CONGRESS HUB 2019

During the last few years Oil&Gas sector had a difficult time surviving in brutal low-price environment…

read more >

Submarine Networks World 2019

As the key annual gathering for decision makers in the subsea communications value chain, they offer a dedicated platform…

read more >

OWI LATAM 2019

Over the two-day conference, 25+ expert speakers will share exclusive insight on how to develop an integrity, production and P&A strategy…

read more >