THE WOODLANDS, Texas (AP) _ Tetra Technologies Inc. (TTI) on Thursday reported a fourth-quarter loss of $113.8 million, after reporting a profit in the same period a year earlier.
The The Woodlands, Texas-based company said it had a loss of 91 cents per share. Earnings, adjusted for one-time gains and costs, came to 3 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The oil and gas services company posted revenue of $259.5 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $250 million.
For the year, the company reported that its loss widened to $147.4 million, or $1.17 per share. Revenue was reported as $1.04 billion.
The company's shares closed at $1.43. A year ago, they were trading at $2.39.