CARBO Ceramics Announces Record Quarterly Earnings
October 17, 2001
CARBO Ceramics Inc. recently announced net income of $8.3 million or $0.55 per share (on a diluted basis), on revenues of $36.6 million, for the quarter ended September 30, 2001. Both revenue and net income were the highest realized for any quarter in the company's history. For the nine months ended September 30, 2001, the company reported net income of $22.1 million or $1.47 per diluted share, on revenues of $106.1 million. Net income for the quarter increased 90% versus the third quarter of 2000, while net income for the same time period, increased 107% from the same period a year earlier. The company also announced that construction of its new manufacturing facility in Louyang, China, commenced with a ground-breaking ceremony on September 14, 2001. The plant will have annual capacity of approximately 40 million pounds and is expected to be operational by the end of 2002.
For more information, visit http://www.carboceramics.com.