Oil States International Inc. reported its financial results for the first quarter of 2025, with net income reaching $3 million, or $0.05 per share. This quarter's performance included facility exit charges totaling $0.9 million, impacting net income by $0.7 million after tax, or $0.01 per share. Excluding these charges, the adjusted net income was $4 million, or $0.06 per share. The company's revenues for the quarter were $160 million, reflecting a 3% sequential decrease, primarily due to the timing of project-driven order conversions from the backlog in the Offshore Manufactured Products segment. Adjusted EBITDA for the quarter stood at $19 million, consistent with the previous quarter, while cash flows from operations amounted to $9 million. A significant business update includes the Offshore Manufactured Products segment's backlog increase by $45 million sequentially, totaling $357 million as of March 31, with a quarterly book-to-bill ratio of 1.5x. Additionally, Oil States purchased $5 million of its common stock during the quarter.
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