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Forum Energy reports 1Q loss

HOUSTON (AP) _ Forum Energy Technologies Inc. (FET) on Thursday reported a loss of $15.8 million in its first quarter.

On a per-share basis, the Houston-based company said it had a loss of 16 cents. Losses, adjusted for non-recurring costs, were 14 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 16 cents per share.

The provider of manufactured technologies and applied products in the energy sector posted revenue of $171.1 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $162.5 million.

Forum Energy shares have declined 18 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18.10, a climb of 18 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


Keywords: Forum Energy Technologies, Earnings Report