TETRA Technologies Posts Loss In Q1 - Quick Facts

(RTTNews) - TETRA Technologies Inc. (TTI) reported a first-quarter loss attributable to stockholders of $6.93 million or $0.09 per share compared to net income of $1.30 million or $0.02 per share, prior year. Loss before discontinued operations was $6.1 million compared to profit of $2.1 million in the comparable period of 2013. Adjusted loss per share was $0.04, for the quarter.

On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.05 for the quarter. Analysts' estimates typically exdclude special items.

Consolidated revenues increased to $212.9 million from $208.6 million in the first quarter of 2013. Analysts expected revenue of $217.56 million for the quarter.

Stuart Brightman, TETRA's CEO, said, "Our adjusted first quarter 2014 loss of $0.04 per share reflects the negative impact of weather on our U.S. operations, a continued delay in increased activity in the U.S. and Mexico for our testing business, and delays in certain deepwater Gulf of Mexico fluids projects."