Natural Gas Services Group, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
August 11, 2021 at 05:14 pm
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Natural Gas Services Group, Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced total revenue was USD 17.749 million compared to USD 17.405 million a year ago. Operating loss was USD 2.293 million compared to USD 148,000 a year ago. Net loss was USD 1.918 million compared to net income of USD 165,000 a year ago. Basic loss per share from continuing operations was USD 0.14 compared to basic earnings per share from continuing operations of USD 0.01 a year ago.
Natural Gas Services Group, Inc. is a provider of gas compression equipment, technology and services to the energy industry. The Company manufactures, fabricates, rents, sells and maintains natural gas compressors for oil and natural gas production and plant facilities. It manufactures a line of compressor frames, cylinders, and parts, known as its Cylinder-in-Plane (CiP) product line. It uses finished CiP component products in the fabrication of compressor units for sale or rental by the Company or sells the finished component products to other compressor fabricators. It holds a limited inventory of flare stacks and related ignition and control devices for onshore and offshore incineration of gas compounds such as hydrogen sulfide, carbon dioxide, natural gas and liquefied petroleum gases. To provide customer support for its compressor and flare sales businesses, the Company stocks varying levels of replacement parts at its Midland, Texas facility and at field service locations.