HOUSTON
(AP) _
Carbo Ceramics Inc. (CRR) on Thursday reported a fourth-quarter loss of
$50 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the
Houston
-based company said it had a loss of
$2.17. Losses, adjusted for one-time gains and costs, were
60 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 81 cents per share.
The maker of material used to boost the output of oil and natural gas wells posted revenue of $56.8 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $47.1 million.
For the year, the company reported a loss of $109.5 million, or $4.76 per share, swinging to a loss in the period. Revenue was reported as $279.6 million.
Carbo Ceramics shares have fallen 4.5 percent since the beginning of the year. The stock has decreased 54 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRR at http://www.zacks.com/ap/CRR
Keywords: Carbo Ceramics, Earnings Report
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Source: Equities.com News
(January 27, 2016 - 7:10 PM EST)
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