Civeo (CVEO) Reports Q4 Loss of $0.15/Share

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Civeo Reports Fourth Quarter and Full Year 2016 Results

February 23, 2017 6:00 AM EST

HOUSTON, Feb. 23, 2017 (GLOBE NEWSWIRE) -- Civeo Corporation (NYSE: CVEO) today reported financial and operating results for the fourth quarter and year ended December 31, 2016 as well as subsequent operational and financial updates.

Highlights include:

Delivered fourth quarter revenues of $91 million at the high end of managements guidance  Generated $13.3 million in operating cash flow and $10.1 million in free cash flow benefited by ongoing cost containment  Made $12.5 million in debt repayments in the fourth quarter and $56 million in debt repayments in 2016, reducing total debt outstanding by $44 million... More