Barclays Upgrades Forum Energy Technologies (FET) to Equalweight
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Forum Energy Technologies Announces First Quarter 2015 Results
April 23, 2015 7:12 PM EDTHOUSTON--(BUSINESS WIRE)-- Forum Energy Technologies, Inc. (NYSE: FET) today announced first quarter 2015 revenue of $348 million, a decrease of $56 million, or 14%, from the first quarter 2014. Net income for the quarter was $29 million or $0.31 per diluted share compared to $37 million or $0.38 per diluted share for the prior year period. Excluding $0.01 per share of non-operational items, adjusted diluted earnings per share were $0.30 in the first quarter 2015. Non-operational items for the quarter included a foreign exchange gain of $6.6 million and a restructuring charge of $4.9 million. See Table I for a reconciliation of GAAP to non-GAAP financial information.
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