Tesco Corp. (TESO), an oil related equipment manufacturer, reported first-quarter net loss of $8.3 million, or $0.21 per share, compared to net income $3.3 million, or $0.08 per share In the prior year.
Adjusted net loss for the recent quarter was $3.3 million, or $0.08 per share, compared to net income of $8.4 million or $0.20 per share in the comparable quarter last year.
On average, 10 analysts polled by Thomson Reuters expected the company to report a loss of $0.01 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue for the latest first quarter was $91.7 million, down from $121.4 million in the prior year period. Analysts projected revenues of $99.34 million for the period.
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