Victory Oilfield Tech, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 16, 2020 at 07:13 am EST
Share
Victory Oilfield Tech, Inc. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced sales was USD 509,160 compared to USD 399,000 a year ago. Operating loss was USD 221,801 compared to USD 583,975 a year ago. Net loss was USD 258,075 compared to USD 609,795 a year ago. Basic loss per share was USD 0.01 compared to USD 0.02 a year ago. For the nine months, sales was USD 1.638 million compared to USD 399,000 a year ago. Operating loss was USD 516,497 compared to USD 12.633 million a year ago. Net loss was USD 608,172 compared to USD 12.695 million a year ago. Basic loss per share was USD 0.02 compared to USD 0.67 a year ago.
Victory Oilfield Tech, Inc. is an oilfield energy technology products company. The Company is focused on enhancing the lifespan of the industryâs equipment. The Company operates in one reportable segment, being Hardband Services, which provides various hardbanding solutions to oilfield operators for drill pipe, weight pipe, tubing, and drill collars. The Company provides and applies wear-resistant alloys for use in the global oilfield services industry. Its wear-resistant alloys reduce drill-string torque, friction, wear and corrosion. It applies its coatings using advanced welding techniques and thermal spray methods. The Company provides tubing and drill-pipe metal coating products, radio frequency identification (RFID) enclosure products, and other services that provide protection and friction reduction for the metal component of a drilling operation.
VICTORY OILFIELD TECH, INC. 