Trico’s (TRMA) First-Quarter Loss Narrows; Shares Drop

Trico Marine Services Inc. (NASDAQ: TRMA), today, reported narrower first-quarter losses. The company reported first-quarter loss of $78.5 million, or $3.80 per share, compared with a loss of $160.1 million, or $7.77 per share it reported for the same period last year.

Revenue declined 37% to $95.7 million. Analysts surveyed by Thomson Reuters were on average expecting Trico to report a loss of $1.21 per share and revenue of $146.5 million. Following weaker-than-expected first-quarter results, shares of Trico Marine Services Inc. have dropped by over 30% in today’s trading.