REFILE-BUZZ-Civeo Corp: Lowers 2015 revenue, EBITDA forecast

Fri Mar 13, 2015 11:52am EDT
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(Corrects to "EBITDA" from "EBIDTA" in headline and second bullet)

** Civeo's shares down 18 pct at $2.89; the top loser on NYSE and on Dow Jones global industrials index

** The provider of temp housing for oilfield workers and miners lowers 2015 revenue, EBITDA forecast, citing weakness in Australian, Canadian dollars

** "We expect conditions to remain difficult in 2015, and our focus is on capturing as much occupancy as possible," CEO Bradley Dodson says

** In December, Civeo suspended dividend payouts, cut its workforce by 45 pct in the U.S. and by 30 pct in Canada

** Since then the company's stock, spun off from Oil States International Inc in May, had declined 57.5 pct