HOUSTON (AP) _ Forum Energy Technologies Inc. (FET) on Wednesday reported fourth-quarter net income of $46 million.
On a per-share basis, the Houston-based company said it had net income of 49 cents. Earnings, adjusted for non-recurring gains, came to 48 cents per share.
The results missed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The provider of manufactured technologies and applied products in the energy sector posted revenue of $438.7 million in the period, which also did not meet Street forecasts. Analysts expected $463.4 million, according to Zacks.
Forum Energy shares have dropped 20 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.56, a decrease of 36 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FET at http://www.zacks.com/ap/FET
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Keywords: Forum Energy Technologies, Earnings Report