Forum Energy Tech rises as Q2 revenue forecast in line with market view

Forum Energy Technologies

13/07/2020 23:21

** Shares of the oilfield services provider  FET.N  rise ~9%
to $0.40 after the bell 
    ** Sees Q2 rev of $110 mln-$115 mln, a decline of about
37%-40% from last year, but in line with analysts' avg. estimate
as per Refinitiv  urn:newsml:reuters.com:*:nBw7pWSvTa
    ** Expects free cash flow for the quarter to be about
negative $6 mln
    ** Expects sharp decreases in revenue to have a significant
impact on financial results
    ** YTD, stock down about 78% YTD 

 (Reporting by Shreyasee Raj in Bengaluru)
 ((Shreyasee.Raj@thomsonreuters.com;))