Allis-Chalmers Energy Inc. (NYSE: ALY) reported Friday that the company posted a slight second-quarter loss.
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The company said the recession's negative impact on commodity prices has resulted in a dropping domestic rig count, scaled-back demand and pressured pricing especially in the
The company reported a loss of $125,000, or break-even per share, compared with earnings of $10.6 million, or 30 cents per share, during the same period last year.
In a survey by Thomson Reuters analysts predicted an average loss of 18 cents per share.
Revenue declined 31 percent to $112.5 million, down from $163.1 million in the prior-year period. Analysts expected revenue of $123.9 million, on average.
The company said its
Shares of the company rose 11 cents, or 4.6 percent, to $2.30 in afternoon trading.
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