Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

TETRA Technologies, Inc. (TTI: Quote) 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.

Register
To receive FREE breaking news email alerts for Tetra Technologies Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved notably higher over the course of the trading day on Friday after initially showing a lack of direction. The gains on the day extended the recent upward trend by the markets, with the tech-heavy Nasdaq reaching its best closing level in almost a month. Looking to capitalize on news of an Ebola diagnosis in New York City, Republican Senate candidate Scott Brown issued a statement Friday criticizing his Democratic opponent Sen. Jeanne Shaheen, D-N.H., for "waffling" on a travel ban. In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.