Nov 3 - Oil and gas services provider Oil States International Inc (OIS.N) posted a quarterly profit that comfortably beat analysts' expectations, helped by increased sales at its offshore products and accommodations businesses.
For the third quarter, the company posted a net income of $26.6 million, or 53 cents a share, compared with earnings of $88.2 million, or $1.68 a share, a year ago.
Analysts on average expected earnings of 40 cents a share, before items, according to Thomson Reuters I/B/E/S.
Revenue fell 44 percent to $456.1 million, beating analysts' expectations of $430.6 million.
Revenue from offshore products business rose 10 percent to $131.8 million.
Oil States ended the third quarter with $193 million in total indebtedness, having reduced the revolver's indebtedness by $261 million since the beginning of 2009, it said in a statement.
Shares of the Houston-based company were down 3 percent at $35.03 after the market. They closed at $36.06 Tuesday on the New York Stock Exchange.
For the third quarter, the company posted a net income of $26.6 million, or 53 cents a share, compared with earnings of $88.2 million, or $1.68 a share, a year ago.
Analysts on average expected earnings of 40 cents a share, before items, according to Thomson Reuters I/B/E/S.
Revenue fell 44 percent to $456.1 million, beating analysts' expectations of $430.6 million.
Revenue from offshore products business rose 10 percent to $131.8 million.
Oil States ended the third quarter with $193 million in total indebtedness, having reduced the revolver's indebtedness by $261 million since the beginning of 2009, it said in a statement.
Shares of the Houston-based company were down 3 percent at $35.03 after the market. They closed at $36.06 Tuesday on the New York Stock Exchange.
