CARBO Ceramics Sees Decreased Revenue in Fourth Quarter
CARBO Ceramics Inc. recently reported net income of $19.8 million on revenues of $153.6 million for the quarter ended December 31, 2012. Revenues for the quarter decreased 3%, or $4.5 million, compared to the fourth quarter of 2011. Net income for the 2012 fourth quarter decreased 40%, or $13.3 million, compared to the fourth quarter of 2011.
North American (defined as Canada and the U.S.) proppant sales volumes increased 12%, while international proppant sales volumes increased 27%, compared to the same period last year. For the fourth quarter of 2012, total proppant sales volumes increased 14%; ceramic proppant volumes increased 16% vs. the previous year’s fourth quarter.
“We are pleased to report record revenue in 2012,” said Gary Kolstad, president and CEO. “Despite a difficult industry environment, we also achieved total proppant sales volume of over 1.71 billion lbs for the year. In particular, we are pleased to have achieved a new record in our ceramic proppant volumes with growth of 5% year-over-year to over 1.54 billion lbs.”
For additional information, visit www.carboceramics.com.