Q3 revenue was $264m (-44% yoy), below consensus estimates. The operating income came in at -$39m, missing consensus (at -$21m) and vs. $4m in Q3 15. The net loss was $88m (vs. -$1,074m in Q3 15 with $967m non-recurring), also below consensus (at -$72m). By division: Equipment: revenue was $54m (-48% yoy; external sales -65%). The operating loss was $10m (vs. a $5m profit in Q3 15) as activity was below breakeven, although the point has been lowered with the transformation plan; Contractual d
08 Nov 2016
Evaluating alternatives to address the capital structure
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Evaluating alternatives to address the capital structure
Q3 revenue was $264m (-44% yoy), below consensus estimates. The operating income came in at -$39m, missing consensus (at -$21m) and vs. $4m in Q3 15. The net loss was $88m (vs. -$1,074m in Q3 15 with $967m non-recurring), also below consensus (at -$72m). By division: Equipment: revenue was $54m (-48% yoy; external sales -65%). The operating loss was $10m (vs. a $5m profit in Q3 15) as activity was below breakeven, although the point has been lowered with the transformation plan; Contractual d