×

Tesco reports 3Q loss

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.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TESO at https://www.zacks.com/ap/TESO