HOUSTON (AP) _ Forum Energy Technologies Inc. (FET) on Thursday reported second-quarter net income of $8.9 million.
On a per-share basis, the Houston-based company said it had net income of 10 cents. Earnings, adjusted for restructuring costs, were 16 cents per share.
The results missed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The provider of manufactured technologies and applied products in the energy sector posted revenue of $284.4 million in the period, which also missed Street forecasts. Eleven analysts surveyed by Zacks expected $312.2 million.
Forum Energy shares have dropped 18 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $16.90, a fall of 51 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