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HOUSTON, July 15, 2013 (GLOBE NEWSWIRE) -- Forum Energy Technologies, Inc. (NYSE:FET) announced today that, based on currently available information, the company now expects second quarter 2013 diluted earnings per share to be in the range of $0.32 to $0.34 per share. This is below the company's previous guidance range of $0.35 to $0.40.
Cris Gaut, Chairman and Chief Executive Officer of Forum commented, "Our second quarter results were roughly flat with our first quarter results as we experienced slack demand for our consumable drilling products and flow equipment products."
Forum will discuss the final results of the second quarter in detail during its previously announced second quarter earnings conference call on July 26, 2013, beginning at 9:00 a.m. CDT.
Forum Energy Technologies, Inc., headquartered in Houston, Texas, is a global provider of manufactured technologies and applied products to the energy industry. Forum's over 3,500 employees provide the products and technologies essential to solving the increasingly complex challenges of the subsea, drilling, completion, and production sectors of the oil and gas industry. For more information, please visit www.f-e-t.com. Forward Looking Statements and Other Legal Disclosure
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expectations of plans, strategies, objectives and anticipated financial and operating results of the company, including any statement about the company's future financial position, liquidity and capital resources, operations, performance, acquisitions, returns, capital expenditure budgets, new product development activities, costs and other guidance included in this press release.