THE WOODLANDS, Texas (AP) _ Apergy Corp. (APY) on Wednesday reported third-quarter net income of $13.6 million.
On a per-share basis, the The Woodlands, Texas-based company said it had profit of 18 cents. Earnings, adjusted for one-time gains and costs, came to 27 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The oil and gas drilling technology company posted revenue of $278.4 million in the period.
For the current quarter ending in December, Apergy said it expects revenue in the range of $255 million to $270 million.
Apergy shares have decreased nearly 5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $25.77, a drop of 33% in the last 12 months.