Oil States Swings To Q2 Loss

(RTTNews) - Oil States International, Inc. (OIS) reported a net loss for the second quarter of $7.9 million or $0.15 per share, compared to net income of $76.5 million or $1.38 per share for the year-ago quarter.

Loss from continuing operations for the second quarter was $24.1 million or $0.45 per share, compared to income from continuing operations of $28.9 million or $0.52 per share in the prior year quarter.

Excluding spin-off related charges totaling $110 million, or $1.33 per share, associated with the spin-off of the company's accommodations business, now named Civeo Corp., income from continuing operations for the latest quarter was $47.6 million or $0.88 per share.

Revenues for the second quarter rose to $459.6 million from $390.8 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.87 per share on revenue of $457.61 million for the second quarter. Analysts' estimates typically exclude special items.