Shares of oilfield services company Oil States International, Inc. (OIS) are falling more than 15% Friday morning despite reporting improved results for the first quarter.
Net income for the quarter was 2.16 million or $0.03 per share compared with net loss of $9.42 million or $0.16 per share in the same quarter a year ago.
The consensus estimate of analysts polled by Thomson-Reuters was $0.02 per share.
Revenue increased to $196.2 million from $164.04 million last year.
OIS, currently at $6.33, has traded in the range of $3.51-$10.47 in the last 1 year.
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