Tesco Corp. Q3 Profit Slides, Misses View - Quick Facts

(RTTNews) - Tesco Corp. (TESO), an oil related equipment manufacturer, reported lower net income of $7.5 million, or $0.18 per share, for the third quarter ended September 30, 2014, versus last year's $11.7 million, or $0.29 per share.

Adjusted net income for the recent quarter was $11.1 million, or $0.27 per share, which excludes the after-tax impact of foreign currency losses in Argentina, Mexico and Russia, totaling $2.7 million, or $0.07 per share, and the negative tax impact of certain losses with no tax benefit in several countries, or $0.02 per share, the company said. On average, 10 analysts polled by Thomson Reuters expected earnings of $0.34 per share for the quarter. Analysts' estimates typically exclude special items.

Third-quarter 2014 revenue was $141.9 million, an increase compared with $132.2 million for the third quarter of 2013. Analysts projected revenues of $154.08 million for the period.