Boart Longyear Limited
(ASX:BLY) has swung to a half year net loss of $US329 million, down from a net profit of $98 million for the same period last year.
The interim result comes after the company wrote off $175 million in goodwill and intangible assets and $42 million in rigs and acillary equipment in its drilling segment.
In total the company incurred $US315 million in charges related to restructuring and impairments.
The company says its committed to running the business more efficiently, reducing costs and prudently managing the risks in the business.
Boart Longyear will not pay an interim dividend.
