HOUSTON (AP) _ Now Inc. (DNOW) on Wednesday reported a second-quarter loss of $30 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Houston-based company said it had a loss of 27 cents. Losses, adjusted for non-recurring costs, were 16 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 32 cents per share.
The energy and industrial distribution company posted revenue of $370 million in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $371.4 million.
Now shares have dropped 24% since the beginning of the year. The stock has decreased 28% in the last 12 months.