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Article: Allis-Chalmers Energy Reports Third Quarter 2009 Results.
- Article from:
- Business Wire
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON -- Allis-Chalmers Energy Inc. (NYSE:ALY) reported a net loss attributed to common stockholders for the third quarter of 2009 of $10.3 million, or $0.14 per diluted share, after preferred stock dividend, compared to net income of $12.3 million, or $0.35 per diluted share in the third quarter of 2008. Revenues for the third quarter of 2009 decreased 32.7% to $120.0 million compared to $178.3 million for the third quarter of 2008.
Results for the third quarter of 2009 include $1.1 million of severance payments and a $500,000 addition to the allowance for bad debts.
Allis-Chalmers reported a net loss attributed to common stockholders for the first ...