logo
Share SHARE
FONT-SIZE Plus   Neg

TETRA Posts Q2 EPS Excl. Maritech Of $0.06; Lowers FY14 Earnings Guidance

TETRA Technologies, Inc. (TTI) reported that its second-quarter net loss to stockholders narrowed to $2.46 million or $0.03 per share from a loss of $2.93 million or $0.04 per share, last year. Net income per share to stockholders excluding Maritech was $0.06, compared to $0.16 prior year.

On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.19 for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $242.49 million from $221.10 million, prior year. Analysts expected revenue of $249.40 million for the quarter.

The company also announced that it is lowering the previously disclosed earnings guidance for the 2014 fiscal year to a range of $0.50 to $0.60 per share, excluding the impact of the Maritech segment, transaction costs, and unusual items. The company said the reduction in earnings guidance is driven primarily by weaker than normal second quarter results for the Offshore Services segment and a slower than expected recovery for the company's Production Testing business. Analysts expect the company to report fiscal 2014 earnings per share of $0.66.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Fast-food giant McDonald's plans to offer big discounts on its sodas and coffee, aiming to meet the declining customer visits, Bloomberg reported Wednesday. The company is likely to offer $1 sodas of any size for a limited time starting in April across the U.S. Further, McCafe specialty drinks, which normally range from $2.69 and $4, will be sold for $2 for a limited time. Electric car maker Tesla Motors Inc. (TSLA), Wednesday reported a loss for the fourth quarter that was narrower than last year. The company said it expects to start volume production of Model 3 by September. Palo Alto, California-based Tesla reported fourth-quarter loss of $121.3 million or $0.78... Canada based Maple Leaf Foods Inc. Wednesday said it has reached a definitive agreement with Brynwood Partner VI L.P. for the acquisition of Lightlife Foods Inc. The deal would be worth $140 million plus other costs. Light is a brand in U.S. for refrigerated plant based protein foods.
comments powered by Disqus
Follow RTT