Earnings ResultsWell, not what I was expecting by far. In fact, pretty disappointing. However, there are some bright spots that provide a glimmer of hope, such as:
"The North America oilfield services activity continues to improve through the third quarter of 2003 resulting in higher rental revenues for the nine months. This is a reversal of 2002 trends where rental revenues were low but international sales were high. International sales continue to be below the 2002 sales but indications from quotes would seem that international activity is increasing."
"...However, recent increases in interest from international markets bring renewed expectations for increased stability and improved demand for downhole tools. Business outlook from this increased interest will likely come to fruition in 2004."
I'm somewhat surprised with the showing of the stock price, however, we may break below that 0.40 barrier before the next report is released. However, if they came out with some kind of PR about some big foreign deal that would change the picture, IMO.
GLTA
Cheers,
Oxyurid