Dril-Quip has seen its revenues and profits dive as operators continued to defer spending last year, and the US services company forecasts "very challenging year" ahead.
The Houston-based manufacturer reported revenues of $538.7 million, compared to $844.3 million for the same period in 2015.
Net profit last year fell as well to $93.2 million, compared with a net profit of $192 million a year earlier.
The
