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Forum Energy: 1Q Earnings Snapshot

HOUSTON (AP) _ Forum Energy Technologies Inc. (FET) on Thursday reported a first-quarter loss of $7.9 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Houston-based company said it had a loss of 7 cents. Losses, adjusted for non-recurring costs, came to 4 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.

The provider of manufactured technologies and applied products in the energy sector posted revenue of $271.8 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $266.1 million.

Forum Energy shares have risen 30 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.35, a drop of 57 percent in the last 12 months.


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