Oil States (OIS) Tops Q1 EPS by 6c

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Go back to Oil States (OIS) Tops Q1 EPS by 6c

Oil States Announces First Quarter 2020 Results of Operations

April 29, 2020 5:15 PM EDT

HOUSTON, April 29, 2020 (GLOBE NEWSWIRE) -- Oil States International, Inc. (NYSE: OIS) reported a net loss for the first quarter of 2020 of $405.0 million, or $6.79 per share, on revenues of $219.7 million and Consolidated EBITDA (Note A) of $21.9 million. The reported first quarter 2020 net loss included the following significant items, which totaled $396.8 million after-tax, or $6.65 per share:

Non-cash goodwill asset impairment charges of $406.1 million ($386.5 million after-tax, or $6.48 per share)Non-cash write-downs of inventory totaling $25.2 million ($20.5 million after-tax, or $0.34 per share)Non-cash fixed asset impairment charge of $5.2 million ($4.1 million after-tax, or $0.07 per share)Severance and... More