Nov 9 - Canada's Flint Energy Services Ltd (FES.TO) reported a better-than-expected quarterly profit as the oilfield services company was able to put a lid on expenses.
For the third quarter, the company posted a net income of C$9.7 million, 21 Canadian cents a share, compared with a loss of C$163.2 million, or C$3.41 a share, a year earlier.
Consolidated revenue fell 22 percent to C$459.7 million due to poor performance at its production services segment, particularly in the United States, and the oilfield services segment, the company said.
Analysts on average expected earnings of 19 Canadian cents a share, before special items, on revenue of C$440.3 million, according to Thomson Reuters I/B/E/S.
Shares of the Calgary, Alberta-based company closed at C$11.85 Monday on the Toronto Stock Exchange.
For the third quarter, the company posted a net income of C$9.7 million, 21 Canadian cents a share, compared with a loss of C$163.2 million, or C$3.41 a share, a year earlier.
Consolidated revenue fell 22 percent to C$459.7 million due to poor performance at its production services segment, particularly in the United States, and the oilfield services segment, the company said.
Analysts on average expected earnings of 19 Canadian cents a share, before special items, on revenue of C$440.3 million, according to Thomson Reuters I/B/E/S.
Shares of the Calgary, Alberta-based company closed at C$11.85 Monday on the Toronto Stock Exchange.
