Tesco (TESO) Misses Q1 EPS by 7c

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Tesco Corporation Reports First Quarter 2015 Results

May 8, 2015 7:00 AM EDT

HOUSTON, May 8, 2015 /PRNewswire/ -- Tesco Corporation ("TESCO" or the "Company") (NASDAQ: TESO) today reported first quarter 2015 results.

First Quarter Operating Results

Fernando Assing, TESCO's Chief Executive Officer, commented, "As we have previously discussed, the rapid decline in energy prices that took place over the last several months has impacted drilling activity and consequently reduced our customers' planned spending for both new drilling equipment as well as drilling-related services during the first quarter of 2015. Revenue was down sequentially in all product lines, especially in new top drive... More