Tesco Q3 Profit Declines - Quick Facts

(RTTNews) - Tesco Corp. (TESO), an oil related equipment manufacturer, reported Tuesday that its third-quarter net income was $7.5 million or $0.18 per share, compared to net income of $11.7 million or $0.29 per share in the prior year.

Adjusted net income for the quarter was $11.1 million or $0.27 per share, down from $11.7 million or $0.29 per share in the comparable quarter last year. On average, ten analysts polled by Thomson Reuters expected earnings of $0.34 per share for the quarter. Analysts' estimates typically exclude special items.

Third-quarter revenue was $141.9 million, up 7 percent from $132.2 million last year, while eight analysts projected revenues of $154.08 million.