Dril-Quip Inc. Reveals 97% Fall In Q4 Bottom Line

(RTTNews) - Dril-Quip Inc. (DRQ) reported earnings for fourth quarter that fell from last year.

The company said its earnings came in at $1.30 million, or $0.03 per share. This was down from $48.35 million, or $1.28 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.3 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 47.4% to $106.09 million. This was down from $201.63 million last year.

Dril-Quip Inc. earnings at a glance:

-Earnings (Q4): $1.30 Mln. vs. $48.35 Mln. last year. -Earnings Decline (Y-o-Y): -97.3% -EPS (Q4): $0.03 vs. $1.28 last year. -EPS Decline (Y-o-Y): -97.7% -Analysts Estimate: $0.3 -Revenue (Q4): $106.09 Mln vs. $201.63 Mln last year. -Revenue Change (Y-o-Y): -47.4%