Forum Energy Technologies (FET) Misses Q3 EPS by 1c

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Go back to Forum Energy Technologies (FET) Misses Q3 EPS by 1c

Forum Energy Technologies Announces Third Quarter 2016 Results

October 27, 2016 7:24 PM EDT

HOUSTON--(BUSINESS WIRE)-- Forum Energy Technologies, Inc. (NYSE: FET) today announced third quarter 2016 revenue of $138 million, a decrease of $5 million, or 3%, from the second quarter 2016. Net loss for the quarter was $18 million, or $0.20 per diluted share, compared to a net loss of $29 million, or $0.31 per diluted share, for the second quarter 2016. Excluding $0.01 per share of special items, the adjusted net loss was $0.19 per diluted share in the third quarter of 2016.

Special items in the third quarter 2016 included pre-tax charges of $4 million for restructuring related to facility closures, partially offset by $3... More