Advanced Ceramics / Ceramic Industry News

CARBO Reports 61% Revenue Increase

August 2, 2010
/ Print / Reprints /
ShareMore
/ Text Size+

CARBO Ceramics Inc. has reported net income of $18.7 million, or $0.81 per diluted share, on revenues of $111.5 million for the quarter ended June 30, 2010. This represents a 61% increase compared to the prior year.

“We are pleased with the results for the second quarter,” said Gary Kolstad, president and CEO. “The economic success that our clients have experienced when using our highly conductive proppant in both oil and natural gas plays has helped maintain demand at a high level. Although we were able to marginally draw down from our finished goods inventory during the second quarter, we remain capacity constrained, and as mentioned on last quarter’s conference call, we expect proppant sales volumes to track closely with our production capacity over the next several months.

“Construction is progressing well on the third 250 million pound production line at our Toomsboro, Ga., facility, and we still expect this line to commence production in November of this year. We continue to see solid revenue growth in the Falcon Technologies business, and were pleased to have announced an 11% increase in our quarterly dividend, illustrating the board of directors' confidence in the current and future financial strength of the company.”

The company’s worldwide proppant sales volume totaled 314 million pounds for the second quarter of 2010, representing a year-over-year increase of 45%. North American proppant sales volume increased 42% year-over-year, while international proppant sales volume increased 61% compared to the same period last year.

Operating profit for the second quarter of 2010 increased 101%, or $14.5 million, compared to the second quarter of 2009. This increase is due to higher sales volume and an increase in the average proppant selling price, partially offset by an increase in freight costs. Selling, general, administrative and other operating expenses for the second quarter of 2010 increased $3.6 million on a year-over-year basis, largely due to the inclusion of the Falcon Technologies business that was acquired in October 2009 and higher research and development spending.

Net income for the second quarter of 2010 increased 100%, or $9.3 million, compared to the second quarter of 2009.
For additional details, visit www.carboceramics.com.

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

June 2014 Issue Highlights

Our June 2014 issue is now available!

Podcasts

Manufacturing Day 2014

Manufacturing Day organizers share their insights with Managing Editor Kelsey Seidler.

More Podcasts

Ceramic Industry Magazine

CI September 2014 cover

2014 September

You won't want to miss the CI Top 10, traditionally our most popular article of the year!

Table Of Contents Subscribe

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px