BRIEF-Calfrac Posts Q1 loss c$0.47/shr

Thu Apr 28, 2016 6:20am EDT
 
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April 28 (Reuters) - Calfrac Well Services Ltd

* Calfrac announces first quarter results

* Q1 loss per share c$0.47

* Q1 revenue c$216.1 million versus I/B/E/S view c$240.2 million

* Q1 earnings per share view c$ -0.39 -- Thomson Reuters I/B/E/S

* Calfrac Well Services Ltd says in early March 2016 , Calfrac restructured its Canadian, United States and corporate segments

* Pricing in Canada and United States declined on average by 30 percent in Q1 of 2016

* Calfrac says in total, approximately 500 employees were affected by cost initiative which decreased company's global headcount to approximately 2,600

* Calfrac says Canadian, U.S., corporate headcount have declined about 60 percent, 70 percent and 35 percent, respectively, since beginning of 2015   Continued...