HOUSTON (AP) _ Forum Energy Technologies Inc. (FET) on Thursday reported third-quarter profit of $6.7 million.
The Houston-based company said it had net income of 7 cents per share.
The results did not meet Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The provider of manufactured technologies and applied products in the energy sector posted revenue of $245 million in the period, which also did not meet Street forecasts. Nine analysts surveyed by Zacks expected $263.2 million.
Forum Energy shares have decreased 37 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.98, a decrease of 49 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