HOUSTON (AP) — HOUSTON (AP) — Orion Marine Group Inc. (ORN) on Tuesday reported a loss of $240,000 in its fourth quarter.
The Houston-based company said it had a loss of 1 cent per share. Earnings, adjusted for one-time gains and costs, were 8 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The heavy civil marine contractor posted revenue of $233.2 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $226.7 million.
For the year, the company reported profit of $2.5 million, or 6 cents per share. Revenue was reported as $852.3 million.
Orion Marine expects full-year earnings in the range of 36 cents to 42 cents per share, with revenue in the range of $900 million to $950 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ORN at https://www.zacks.com/ap/ORN