(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
-based company said it had a loss of $2.17
. Losses, adjusted for one-time gains and costs, were 60 cents
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
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer
Source: Equities.com News
(January 27, 2016 - 7:10 PM EST)
News by QuoteMedia