May 9, 2017 / 10:23 AM / 6 months ago

BRIEF-Tesco Corp reports Q1 loss per share of $0.29

May 9 (Reuters) - Tesco Corp

* Tesco Corp reports first quarter 2017 results

* Q1 adjusted loss per share $0.29 excluding items

* Q1 gaap loss per share $0.29

* Q1 revenue $36.7 million versus I/B/E/S view $35.7 million

* Q1 earnings per share view $-0.29 -- Thomson Reuters I/B/E/S

* Anticipate U.S. Rig count to continue to increase during Q2 of 2017 but flatten in second half of 2017

* International and offshore markets are not expected to show much improvement in 2017

* Started to see some opportunities to increase pricing in U.S. land, but persistent overcapacity will likely limit pricing power throughout 2017

* Sees Q2 products revenue is expected to be higher sequentially

* Adjusted EBITDA loss is expected to improve sequentially in Q2

* Cash levels are expected to decline due to operating losses and certain tax payments in Q2, although at a reduced rate compared to Q1 Source text for Eikon: Further company coverage:

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