Frank's international announces first quarter 2020 results

Frank's international n.v. announces first quarter 2020 results.q1 revenue $123.5 million versus refinitiv ibes estimate of $134.5 million.planned 2020 capital expenditures reduced by approximately 50%.qtrly loss per share $0.38.strong balance sheet with $218 million in available liquidity and no outstanding debt.anticipate a reduction in personnel costs of over 20% from prior year leading to over $60 million in savings anticipated in 2020.franks international - each executive officers has agreed to reduction in salary of 10%, as well as 50% reduction in short term incentive opportunity.board of supervisory directors has agreed to a reduction of 10% in their cash retainer compensation.recorded a $55.7 million non-cash goodwill impairment charge, net of tax, for cementing equipment segment in quarter.
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