CSE Global reports 53% drop in 3Q earnings to $4 mil on lower revenue

SINGAPORE (Nov 9): CSE Global posted a 52.7% drop in earnings for 3Q16 to $4 million from a year ago on the back of lower revenue.

Revenue for the quarter fell 21.6% to $80.9 million, driven by lower sales across all geographic regions, particularly in the oil and gas sector from the lack of large greenfield projects.

CSE Global has received orders for new projects worth $70.8 million, bringing the order book to $179 million at the end of the quarter.

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