Precision Drilling: 4Q Earnings Snapshot

CALGARY, Alberta (AP) _ Precision Drilling Corp. (PDS) on Thursday reported a loss of $804,000 in its fourth quarter.

On a per-share basis, the Calgary, Alberta-based company said it had a loss of less than 1 cent. Earnings, adjusted for non-recurring costs, came to 4 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The oilfield services company posted revenue of $282.1 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $273.8 million.

For the year, the company reported net income of $5 million, or 2 cents per share, swinging to a profit in the period. Revenue was reported as $1.05 billion.

The company's shares closed at $1.27. A year ago, they were trading at $2.07.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PDS at https://www.zacks.com/ap/PDS