DistributionNOW reports smaller loss on higher sales
NOW Inc. reported third-quarter revenue of $697 million was up 34 percent year over year.
The company recorded a net loss was $9 million for the quarter, versus $56 million a year ago. The diluted loss per share of 8 cents compared to a loss of 53 cents per share in the same period last year.
“I’m pleased with the earnings growth our team produced this quarter. These results reflect our focus on higher product margins, capturing business from new customers and culling costs in areas left behind by the market recovery. Despite weak oil prices in the third quarter and rig counts now softening, we believe consistent execution on improving our core operations, coupled with operators ramping up completions, will enable positive earnings momentum,” said Robert Workman, president and CEO of NOW Inc.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
