Frank's International (FI) Misses Q2 EPS by 13c, Reduces Dividend

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Go back to Frank's International (FI) Misses Q2 EPS by 13c, Reduces Dividend

Frank’s International N.V. Announces Second Quarter 2016 Results

July 28, 2016 8:04 AM EDT

HOUSTON, July 28, 2016 (GLOBE NEWSWIRE) -- Franks International N.V. (NYSE: FI) (Franks or the Company) today reported a net loss of $31 million, or $0.20 per share, on revenue of $121 million for the three months ended June 30, 2016 and an adjusted net loss of $22 million, or $0.14 per share. Adjusted net loss excludes a $9.7 million reserve for doubtful receivables related to the Companys Venezuela operations (ex-items). Adjusted EBITDA for the quarter was a loss of $13.7 million and adjusted EBITDA ex-items was a loss of $4.0 million for the quarter (Adjusted EBITDA and other non-GAAP reconciliations included in this... More