HOUSTON (AP) _ Oil States International Inc. (OIS) on Wednesday reported a loss of $24.6 million in its second quarter.
The Houston-based company said it had a loss of 41 cents per share. Losses, adjusted for one-time gains and costs, came to 33 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 47 cents per share.
The energy services company posted revenue of $146.2 million in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $150.3 million.
Oil States International shares have dropped 69% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.03, a decline of 62% in the last 12 months.