Civeo (CVEO) Tops Q4 EPS by 9c
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Civeo Reports Fourth Quarter 2015 Results
February 24, 2016 6:00 AM ESTHOUSTON, Feb. 24, 2016 (GLOBE NEWSWIRE) -- Civeo Corporation (NYSE: CVEO) today reported financial and operating results for the fourth quarter ended December 31, 2015 as well as subsequent operational and financial updates.
Highlights include:
Delivered solid operating cash flows after capital expenditures and asset sales in the fourth quarter, driven by cost containment, capital discipline and working capital efficiency;Reduced total debt outstanding to $402 million from $775 million at the end of 2014; andAmended existing revolving credit facility to modify certain covenants to provide additional financial flexibility.                                                                                              Despite the challenging market conditions that persisted throughout 2015, we successfully delivered on... More
