CHESTERLAND, Ohio (AP) _ FMSA Holdings Inc. (FMSA) on Thursday reported fourth-quarter net income of $19.9 million, after reporting a loss in the same period a year earlier.
The Chesterland, Ohio-based company said it had profit of 9 cents per share. Earnings, adjusted to extinguish debt, came to 10 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.
The supplier of sand used in oil and gas drilling posted revenue of $273.9 million in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $283.1 million.
For the year, the company reported net income of $53.8 million, or 23 cents per share, swinging to a profit in the period. Revenue was reported as $959.8 million.
The company's shares closed at $4.49. A year ago, they were trading at $9.39.