HOUSTON (AP) _ Tesco Corp. (TESO) on Tuesday reported a loss of $13 million in its third quarter.
The Houston-based company said it had a loss of 28 cents per share. Losses, adjusted for one-time gains and costs, were 20 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 21 cents per share.
The drilling technology developer posted revenue of $40.5 million in the period.
The company's shares closed at $4.20. A year ago, they were trading at $6.80.