Dril-Quip Inc. Q3 Income Retreats 63%

(RTTNews) - Dril-Quip Inc. (DRQ) released earnings for third quarter that decreased compared to the same period last year.

The company said its earnings totaled $19.01 million, or $0.51 per share. This was lower than $50.78 million, or $1.32 per share, in last year's third quarter.

Analysts had expected the company to earn $0.39 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 38.6% to $123.64 million. This was down from $201.40 million last year.

Dril-Quip Inc. earnings at a glance:

-Earnings (Q3): $19.01 Mln. vs. $50.78 Mln. last year. -Earnings Decline (Y-o-Y): -62.6% -EPS (Q3): $0.51 vs. $1.32 last year. -EPS Decline (Y-o-Y): -61.4% -Analysts Estimate: $0.39 -Revenue (Q3): $123.64 Mln vs. $201.40 Mln last year. -Revenue Change (Y-o-Y): -38.6%

-Guidance: Next quarter EPS guidance: $0.25 to $0.35 Full year EPS guidance: $2.10 to $2.20