National Oilwell Varco Posts Loss In Q4

(RTTNews) - National Oilwell Varco, Inc. (NOV) today reported fourth quarter net loss of $385 million or $1.01 per share, compared to a profit of $12 million or $0.03 per share last year.

Quarterly total revenues of $2.28 billion, down five percent from $2.4 billion reported a year earlier.

Total Adjusted EBITDA rose to $288 million from prior year's $279 million.

"NOV remains focused on creating value for our shareholders by supporting our customers across all phases of oil and gas operations with products and services that enhance their returns, improve safety, and extend the life of equipment", commented Clay Williams, Chairman, President, and CEO.