July 29 - Oil and gas services provider Oil States International Inc (OIS.N) posted a quarterly loss, hurt by weakness across its segments and a goodwill impairment charge.
For the second quarter ended June 30, the company posted a loss of $63.5 million, or $1.28 a share, compared with earnings of $59.2 million, or $1.13 a share, a year ago.
Oil States recognized a total goodwill impairment charge of $1.70 a share for the quarter, excluding which, it earned 42 cents a share.
Revenue for the quarter fell 28 percent to $456.3 million, hurt mainly by a 36 percent decrease in tubular services revenue and a 27 percent fall in well site services revenue.
Analysts, on average, were looking for earnings of 39 cents a share, before items, on revenue of $458.1 million, according to Reuters Estimates.
Shares of the Houston-based company closed at $23.98 Wednesday on the New York Stock Exchange. The stock, which has so far more than doubled from its March year-low, is still off more than 50 percent from its August 2008 year-high.
For the second quarter ended June 30, the company posted a loss of $63.5 million, or $1.28 a share, compared with earnings of $59.2 million, or $1.13 a share, a year ago.
Oil States recognized a total goodwill impairment charge of $1.70 a share for the quarter, excluding which, it earned 42 cents a share.
Revenue for the quarter fell 28 percent to $456.3 million, hurt mainly by a 36 percent decrease in tubular services revenue and a 27 percent fall in well site services revenue.
Analysts, on average, were looking for earnings of 39 cents a share, before items, on revenue of $458.1 million, according to Reuters Estimates.
Shares of the Houston-based company closed at $23.98 Wednesday on the New York Stock Exchange. The stock, which has so far more than doubled from its March year-low, is still off more than 50 percent from its August 2008 year-high.
