Boart Longyear Limited
(ASX:BLY) has trimmed its annual loss over the 2014 calendar year but cautioned on future earnings.
The drilling services provider booked a net loss of $US333 million, improving from a loss of $US620 million the year before.
President and CEO Richard O'Brien says despite last year’s challenges the company has entered this year in a stronger and healthier position following significant cost cuts.
No earnings or revenue guidance has been provided but Boart Longyear has warned it will likely be impacted by competitive conditions and a higher US dollar.
No dividends have been declared.
