Baker Hughes said its fourth quarter loss was smaller than a year ago when it booked a $1.25billion impairment charge.
The oilfield services provider, which is being acquired by General Electric, said net loss attributable to it was $417million.
This was compared with a loss of $1.03billion a year earlier.
The latest quarter includes after-tax charge of $291million.
Baker Hughes revenue fell about 29% to $2.41billion.
The merger between GE’s oil and gas business and Baker Hughes will make the new company the number two oilfield services provider, vaulting it ahead of Halliburton.
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