Brief: Northern Ocean Q1 Net Loss At USD 15.2 Mln

Northern Ocean

29/05/2020 07:10

May 29 (Reuters) - Northern Ocean Ltd  NOL.OL :
    * NOL: FIRST QUARTER 2020 RESULTS
    * Q1  OPERATING REVENUE WAS $19.1 MILLION COMPARED TO $14.0
MILLION IN THE FOURTH QUARTER OF 2019
    * Q1  NET LOSS WAS $15.2 MILLION RESULTING IN A BASIC AND
DILUTED
LOSS PER SHARE OF $0.24
    * LAST MONTHS HAVE BEEN CHALLENGED BY SUDDEN REDUCTIONS IN
DEMAND
AND A SLOWDOWN OF ECONOMIC ACTIVITIES, WHICH HAS RESULTED IN A
NEGATIVE IMPACT ON OFFSHORE DRILLING
    * WITH THE SUPPLY OF PREMIUM HARSH ENVIRONMENT DRILLING RIGS
CONTINUING TO BE RELATIVELY LIMITED, CO IS WELL POSITIONED TO
REMAIN COMPETITIVE AND EMPLOYED THROUGH THIS PERIOD

Source text for Eikon:  ID:nObig0ThPa 
Further company coverage:  NOL.OL 

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