Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: isopatch who wrote (12492)	5/16/2002 6:08:16 PM
From: Frank Pembleton	Read Replies (2) of 36161

Tesco Corporation Reports Results for First Quarter First Quarter to March 31, 2002 CALGARY, May 16 /CNW/ - (NASDAQ: TESOF - News), (TSE: TEO - News) - Lower worldwide drilling activities during the first quarter created a difficult market for Tesco Corporation. Revenues for the first quarter were $38.5 million, 30% lower than the $55.0 million achieved in the first quarter of 2001. These lower revenues, combined with higher Casing Drilling(TM) development expenses, resulted in a loss from continuing operations of $1.3 million ($0.04 per diluted share), compared with net earnings, excluding the gain on sale of assets, of $5.4 million ($0.16 per diluted share) in the first quarter of last year. biz.yahoo.com

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