HOUSTON (AP) _ Oil States International Inc. (OIS) on Thursday reported a loss of $31.9 million in its third quarter.
The Houston-based company said it had a loss of 54 cents per share. Losses, adjusted for asset impairment costs and severance costs, were 8 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 9 cents per share.
The energy services company posted revenue of $263.7 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $264.7 million.
Oil States International shares have decreased roughly 7% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $13.30, a decrease of 43% in the last 12 months.