Revenue Update on Tesco Corporation (USA)(NASDAQ:TESO)

Tesco Corporation (USA)(NASDAQ:TESO) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $33.60M. Analysts estimated a revenue of $32.41M. Earnings per share were $-0.39. Analysts had estimated an EPS of $-0.42.

Tesco Corporation (USA) (TESO) shares turned negative on Wednesdays trading session with the shares closing down -0.18 points or -2.39% at a volume of 2,26,758. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $7.63. The peak price level was also seen at $7.63 while the days lowest was $6.991. Finally the shares closed at $7.34. The 52-week high of the shares is $9.77 while the 52-week low is $5.125. According to the latest information available, the market cap of the company is $341 M.

Several Insider Transactions has been reported to the SEC. On Mar 10, 2016, Michael Niedermaier (Vice President, TCII) sold 1,823 shares at $8.34 per share price.Also, On Jan 7, 2016, Christopher L Boone (SVP, CFO) sold 866 shares at $7.09 per share price.On Jan 6, 2016, Roy Mcniven (Vice President, TCUS) sold 398 shares at $7.11 per share price, according to the Form-4 filing with the securities and exchange commission.

Tesco Corporation is engaged in design assemble and service delivery of technology-based solutions for the upstream energy industry. The Company’s product and service offerings consist primarily of equipment sales and services to drilling contractors and exploration and production companies around the world. The Company has operations in 23 countries across five continents. The Company operates through Top Drives Tubular Services Research & Engineering and Corporate and Other segments. The Company’s Top Drive segment includes top drive sales top drive rentals and after-market sales and services. Its Tubular Services segment includes automated and conventional tubular services. Its Research and Engineering segment includes internal research and development activities related to its automated tubular services and top drive model development as well as the Casing Drilling technology prior to the sale.

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