• February 19, 2020

Forum Energy: 4Q Earnings Snapshot - Odessa American: Business

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Forum Energy: 4Q Earnings Snapshot

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Posted: Thursday, February 13, 2020 4:07 am | Updated: 4:33 am, Thu Feb 13, 2020.

HOUSTON (AP) — Forum Energy Technologies Inc. (FET) on Wednesday reported a loss of $12.4 million in its fourth quarter.

The Houston-based company said it had a loss of 11 cents per share. Losses, adjusted for one-time gains and costs, were 9 cents per share.

The results matched Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for a loss of 9 cents per share.

The provider of manufactured technologies and applied products in the energy sector posted revenue of $199.8 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $216 million.

For the year, the company reported that its loss widened to $567.1 million, or $5.15 per share. Revenue was reported as $956.5 million.

The company's shares closed at $1.08. A year ago, they were trading at $6.79.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FET at https://www.zacks.com/ap/FET

© 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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