NEWPARK RESOURCES REPORTS ANNUAL RESULTS
NEWPARK RESOURCES REPORTS ANNUAL RESULTS NEW ORLEANS, March 2 /PRNewswire/ -- Newpark Resources, Inc.
(NASDAQ: NPRS), today reported 1991 earnings before extraordinary and nonrecurring items of $4 million, or $.65 per share, on revenues of $60.1 million, compared to 1990 earnings of $1.6 million, or $.44 per share, on revenues of $46.1 million.
Net earnings in 1991 were $2.5 million, or $.40 per share, after extraordinary and nonrecurring items of $1.5 million, or $.25 per share, related to the early extinguishment of debt. For the quarter ended Dec. 31, Newpark earned $1.2 million, or $.13 per share, on revenues of $14.1 million compared to net income of $631,000, or $.14 per share, on revenues of $13.2 million in the corresponding quarter of 1990. James D. Cole, president and chief executive officer, attributed the improved operating results to the continuing integration of services and market share growth in both environmental services and oilfield services business lines. Cole remarked that the company's recent equity offering, completed in September, had positioned the company to take advantage of opportunities for growth of its environmental services businesses. Newpark Resources, Inc., provides integrated environmental and oilfield services to the oil and gas exploration and production industry. NEWPARK RESOURCES, INC. Consolidated Statement of Operations (in 000s except per share amounts) Periods ended Quarter Year Dec. 31 1991 1990 1991 1990 Revenues $14,148 $13,179 $60,050 $46,064 Income before extraord. & nonrecurring items 1,165 631 4,023 1,584 Extraord. & nonrecurring items --- --- (1,520) --- Net income $ 1,165 $ 631 $ 2,503 $ 1,584 Per share data: Income before extraord. & nonrecurring items $.13 $.14 $ .65 $.44 Extraord. & nonrecurring items --- --- (.25) --- Net income $.13 $.14 $ .40 $.44 Weighted aver. shares outstg. 9,066 4,372 6,210 3,562 -0- 3/2/92 /CONTACT: Dottie Keating, corporate secretary of Newpark Resources, 504-838-8222/ (NPRS) CO: Newpark Resources, Inc. ST: Louisiana IN: OIL SU: ERN
GK-KD -- NY027 -- 3861 03/02/92 10:33 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Mar 2, 1992|
|Previous Article:||MAPI ANALYSIS CONCLUDES THAT CANADIAN HEALTH CARE SYSTEM IS WRONG APPROACH FOR U.S. REFORM, OUTLINES BETTER ALTERNATIVES|
|Next Article:||CONSENT DECREE ENTERED IN FDA SEIZURE OF QUANTITIES OF SKIN CREAM AND RELATED ARTICLES|