Koil Energy Solutions, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 09, 2022 at 01:47 am IST
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Koil Energy Solutions, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 3.5 million compared to USD 4.53 million a year ago. Net income was USD 0.177 million compared to USD 0.724 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to USD 0.06 a year ago. Diluted earnings per share from continuing operations was USD 0.01 compared to USD 0.06 a year ago.
For the six months, sales was USD 7.1 million compared to USD 8.45 million a year ago. Net loss was USD 0.087 million compared to net income of USD 0.872 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to basic earnings per share from continuing operations of USD 0.07 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to diluted earnings per share from continuing operations of USD 0.07 a year ago.
Koil Energy Solutions, Inc. is an energy services company, which provides equipment and support services to the worldâs energy and offshore industries. Its core services and technological solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, and related services. It supports subsea engineering, manufacturing, installation, commissioning, and maintenance projects located anywhere in the world. Its line of solutions is engineered and manufactured for integrated, large independent, and foreign national energy companies in offshore areas throughout the world. These products are often developed in direct response to customer requests for solutions to critical needs in the field. Its products include Flying Leads, Umbilical Hardware, Installation Aids and Riser Isolation Valves and Subsea Isolation Valve Services. It designs, manufactures, and installs flying leads, particularly steel tube flying leads.
KOIL ENERGY SOLUTIONS, INC. 
