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All publications by tag «TESCO»

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2017, November, 8, 11:12:00
TESCO NET LOSS $38.8 MLN
TESCO reported a U.S. GAAP net loss of $13.0 million, or $(0.28) per share, in the third quarter of 2017. Adjusted net loss for the quarter was $9.2 million, or $(0.20) per share, excluding special items, consisting primarily of charges related to restructuring and transaction costs. Restructuring costs were mainly for facility consolidation and headcount reductions in Latin America. This compares to a U.S. GAAP net loss of $12.1 million, or $(0.26) per diluted share, in the second quarter of 2017, and a U.S. GAAP net loss of $22.1 million, or (0.48) per diluted share, in the third quarter of 2016. Adjusted net loss in the second quarter of 2017 was $11.6 million, or $(0.25) per diluted share, and in the third quarter of 2016 was $17.3 million, or $(0.37) per diluted share.
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2017, August, 15, 10:30:00
NABORS - TESCO ACQUISITION
Nabors Industries Ltd. ("Nabors") (NYSE: NBR) is pleased to announce that the company has signed an Arrangement Agreement ("Agreement") to acquire all of the issued and outstanding common shares of Tesco Corporation ("Tesco") (NASDAQ: TESO), with each outstanding share of common stock of Tesco being exchanged for 0.68 common shares of Nabors. This transaction will create a leading rig equipment and drilling automation provider by combining Canrig, Nabors rig equipment subsidiary, with Tesco's rig equipment manufacturing, rental and aftermarket service business. Additionally, Tesco operates a tubular services business in numerous key regions globally, which will immediately benefit Nabors Drilling Solutions' operation.
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2017, August, 9, 09:51:00
TESCO NET LOSS $25.8 MLN
TESCO reported a U.S. GAAP net loss of $12.1 million, or $(0.26) per share, in the second quarter of 2017. Adjusted net loss for the quarter was $11.6 million, or $(0.25) per share, excluding special items, consisting primarily of charges related to restructuring costs. This compares to a U.S. GAAP net loss of $13.7 million, or $(0.29) per diluted share, in the first quarter of 2017, and a U.S. GAAP net loss of $18.9 million, or (0.47) per diluted share, in the second quarter of 2016. Adjusted net loss in the first quarter of 2017 was $13.4 million, or $(0.29) per diluted share, and in the second quarter of 2016 was $15.8 million, or $(0.39) per diluted share.
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2017, May, 11, 18:00:00
TESCO NET LOSS $13.7 MLN
TESCO reported a U.S. GAAP net loss of $13.7 million, or $(0.29) per share, in the first quarter of 2017. Adjusted net loss for the quarter was $13.4 million, or $(0.29) per share, excluding special items, consisting primarily of charges related to restructuring costs. This compares to a U.S. GAAP net loss of $20.1 million, or $(0.43) per diluted share, in the fourth quarter of 2016, and a U.S. GAAP net loss of $56.8 million, or $(1.45) per diluted share, in the first quarter of 2016. Adjusted net loss in the fourth quarter of 2016 was $13.3 million, or $(0.28) per diluted share, and in the first quarter of 2016 was $17.9 million, or $(0.46) per diluted share.
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2017, March, 16, 18:30:00
TESCO NET LOSS $117.9 MLN
TESCO reported a U.S. GAAP net loss of $20.1 million, or $(0.43) per diluted share, for the fourth quarter ended December 31, 2016. Adjusted net loss for the quarter was $13.3 million, or $(0.28) per share, excluding special items, consisting primarily of several charges related to receivables and restructuring costs. This compares to a U.S. GAAP net loss of $22.1 million, or $(0.48) per diluted share in the third quarter of 2016, and a U.S. GAAP net loss of $78.1 million, or $(2.00) per diluted share, for the fourth quarter of 2015. Adjusted net loss in the third quarter of 2016 was $17.3 million, or $(0.37) per diluted share, and in the fourth quarter of 2015 was $13.4 million, or $(0.33) per diluted share.
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2016, November, 22, 18:30:00
TESCO NET LOSS $97.8 MLN
Tesco reported a U.S. GAAP net loss of $22.1 million, or $(0.48) per share, for the third quarter ended September 30, 2016. Our adjusted net loss for the quarter was $17.3 million, or $(0.37) per share, excluding special items, consisting primarily of several charges related to inventory and restructuring costs. This compares to a U.S. GAAP net loss of $18.9 million, or $(0.47) per diluted share, in the second quarter of 2016, and a U.S. GAAP net loss of $19.9 million, or $(0.51) per diluted share, for the third quarter of 2015. Adjusted net loss in the second quarter of 2016 was $15.8 million, or $(0.39) per diluted share, and in the third quarter of 2015 was $12.5 million, or $(0.32) per diluted share.
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2016, June, 9, 18:30:00
TESCO NEED MONEY
Tesco Corporation (the "Company") (NASDAQ: TESO) today announced that it has priced its underwritten public offering of 7,000,000 common shares of the Company at a price to the public of $7.00 per share. The Company has granted the underwriter a 30-day option to purchase up to an additional 1,050,000 common shares at the offering price (less the underwriting discounts). The Company expects to close the sale of the common shares on June 14, 2016, subject to customary closing conditions.
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2016, May, 12, 20:00:00
TESCO NET LOSS $56.8 MLN
Tesco Corporation Reports First Quarter 2016 Results: - Revenues declined to $35.5 million as a result of challenging market conditions - Cash increased $2.4 million during the quarter, ending at $53.9 million with no debt - Adjusted EBITDA was $(7.8) million, or (22)% of revenue - Reported diluted EPS was a loss of $1.45 and adjusted EPS was a loss of $0.46, after $0.99 in charges - Restructuring programs since Q4 2014 expected to yield $60 million of annualized savings
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2016, March, 3, 18:45:00
TESCO NET LOSS $133.8 MLN
Tesco reported revenue of $52.2 million for the fourth quarter ended December 31, 2015, down from $61.4 million, or 15%, in the third quarter of 2015 and down from $134.5 million, or 61%, in the fourth quarter of 2014. The sequential decline in revenue was primarily from lower activity and revenues in North America and Latin America for our rental and AMSS offerings.
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2015, November, 5, 18:55:00
TESCO CORPORATION DOWN 57%
Fernando Assing, TESCO's Chief Executive Officer, commented, "We continue to be impacted by market conditions that reduced drilling activity and pricing. We are positioning our business under the assumption that the market will be lower for longer. Consistent with our commitment of sustainability through the current market, we implemented additional global restructuring actions in the third quarter with annualized savings of approximately $5 million, bringing our total annualized savings from restructuring to $40 million. These actions are designed to lower our cost structure and better match current market activity. We continue to see opportunities to improve our operating performance and improve cash generation".