Tesco (TESO) Misses Q3 EPS by 7c, Offers Outlook
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TESCO Corporation Reports Third Quarter 2015 Results
November 4, 2015 6:30 AM EST- As a result of difficult market conditions, third quarter revenues declined to $61 million
- Adjusted EBITDA for the third quarter was $(1.0) million and free cash flow was near break-even after restructuring
- Restructuring programs to date have yielded $40 million of annualized savings, with additional opportunities for further investment to simplify our structure and improve efficiency
- TESCO was awarded meaningful offshore tubular services contracts in the GOM and North Sea
- We remain committed to new technology, with $2.1 million of R&E investment in Q3
- Third quarter... More
