Newpark Resources, Inc. (NYSE:NR) Reports 4Q Results Above Street Estimates

Newpark Resources, Inc. (NYSE:NR) posted fourth fiscal quarter financial results above analysts’ estimates on Thursday. Net income for the fourth fiscal quarter of $14.8 million, or 15 cents a share has been posted, compared to net income for the third quarter of $8.2 million, or 9 cents a share, and net income for the fourth quarter of 2009 of $16,000, or break-even on a per share basis.  Analysts on an average had expected the company to earn 9 cents a share. This increase versus consensus is driven by higher revenue at key drilling fluids systems and engineering segment. Total revenues during the quarter rose 43% year over year to $194.5 million from $135.5 million for the fourth quarter of 2009, above the analysts' estimate of $179.9 million. Revenue at fluids systems and engineering segment, which contributes to about 83% of revenue, rose 43% to $162.8 million. For the full year 2010, total revenues of $716.0 million has been recorded compared to $490.3 million for the full year 2009.  Net income for the full year of 2010 of $41.6 million, or 46 cents a share has been posted, compared to a net loss of $20.6 million, or 23 cents a share, for 2009. Shares of a diversified oil and gas industry supplier went up by 31 cents or 4.77% to $6.81 after opening at $7.41 and trading in the range of $6.72-$7.15 on volume of 4.25 million shares. The market capitalization of the stock stands at $615.99 million with P/E of 22.70 and beta of 0.96. The Company operates in three business segments: Fluids Systems and Engineering, Mats and Integrated Services, and Environmental Services. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
Negocioenlinea
tdp2664
Epic Stock Picks