CARBO Ceramics Inc. recently reported net income of $31.9 million on revenues of $177.6 million for the quarter ended June 30, 2012. Revenues for the quarter increased 19%, or $27.9 million, when compared to the second quarter of 2011. North American (defined as Canada and the U.S.) proppant sales volume increased 17%, while International proppant sales volume increased 20%, compared to the same period last year.
“Sales volumes set a new quarterly record despite difficult market conditions, including an over-supply of varying quality Chinese ceramic proppant in North America,” said Gary Kolstad, president and CEO. “We achieved this sales volume record through our continued focus to further expand the use of CARBO’s high-quality, high-conductivity ceramic proppant in the liquids-rich basins, namely the Bakken and Eagle Ford.”
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