Victory Oilfield Tech, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 14, 2022 at 11:14 am EST
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Victory Oilfield Tech, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 0.327573 million compared to USD 0.257225 million a year ago. Net loss was USD 0.143047 million compared to USD 0.051195 million a year ago. Basic loss per share from continuing operations was USD 0.01. Diluted loss per share from continuing operations was USD 0.01.
For the nine months, sales was USD 1.22 million compared to USD 0.619492 million a year ago. Net loss was USD 0.217329 million compared to USD 0.385099 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to USD 0.01 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. 
