NCS Multistage Holdings, Inc. Announces Fourth Quarter and Full Year 2023 Results
HOUSTON, March 07, 2024 (GLOBE NEWSWIRE) -- NCS Multistage Holdings, Inc. (Nasdaq: NCSM) (the “Company,” “NCS,” “we” or “us”), a leading provider of highly engineered products and support services that facilitate the optimization of oil and natural gas well construction, well completions and field development strategies, today announced its results for the quarter and year ended December 31, 2023.
- Total revenues were $35.2 million for the quarter ended December 31, 2023, a decrease of 12% compared to the fourth quarter of 2022.
- Gross profit was $12.3 million, or a gross margin of 35%, for the fourth quarter of 2023, compared to $15.6 million, or 39%, for the fourth quarter of 2022.
- Other income was $0.4 million for the fourth quarter of 2023 as compared to $1.4 million for the fourth quarter of 2022.
- Consequently, we reversed our previously recorded litigation provision of $40.8 million during the fourth quarter of 2023.