Seventy Seven Energy (SSE) Reports Q1 Loss of $1.01

Seventy Seven Energy (NYSE: SSE) reported Q1 EPS of ($1.01), versus ($0.45) reported last year. Revenue for the quarter came in at $115.4 million, versus $192.8 million reported last year.

"Confronted with nearly insuperable market conditions, we were pleased with our operational execution for the quarter,” Chief Executive Officer Jerry Winchester said. “This will be the most challenging year the services industry has faced due to the historic decline in activity. Our focus is to tightly manage our costs throughout all areas of our business, while operating safely and efficiently for our customers. After last Tuesday’s restructuring announcement, we are more confident than ever that Seventy Seven Energy is positioned for long-term success and growth as conditions improve.”

For earnings history and earnings-related data on Seventy Seven Energy (SSE) click here.

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