Archer swings back to the black

Oil services company Archer returned to profit in the second quarter of this year from a loss in the same period last year.

Archer posted a net income of $3.5 million for the second quarter of 2019 compared to a loss of $7.4 million in the prior-year quarter.

The company’s revenues increased to $235.6 million in the second quarter of this year from $224.4 million in 2Q 2018.