Feb 28 Dril-Quip Inc:
* Dril-Quip Inc announces results for 4th quarter & year end
* Q4 results negatively impacted by after-tax loss from
operations of TIW Corp of $0.08 per share
* Company announced that its backlog at December 31, 2016
was $318 million, compared to $685 million at December 31, 2015
* "2017 will be a very challenging year for us and for
entire offshore sector"
* Q4 earnings per share $0.03
* Q4 revenue $106.1 million versus I/B/E/S view $115.4
* Due to reduced backlog level, uncertainty of book-and-ship
order volumes, do not believe that it would be prudent to
provide 2017 EPS guidance
* "further reduced our employee headcount in Q1 of 2017"
* "we do expect to be net income and free cash flow positive
* "do not believe that it would be prudent to provide 2017
earnings-per-share guidance at this time"
* In addition, reductions in pay have been instituted
* Expect to be net income and free cash flow positive during
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