Core Laboratories N.V. provides reservoir description, production enhancement, and reservoir management services to the oil and gas industry in the United States, Canada, and internationally. The company’s Reservoir Description segment comprises the characterization of petroleum reservoir rock, fluid, and gas samples. This segment offers analytical and field services to characterize properties of crude oil and petroleum products to the oil and gas industry. Its Production Enhancement segment includes products and services relating to reservoir well completions, perforations, stimulations, and production. This segment offers integrated services to evaluate the effectiveness of well completion...
Amsterdam, 1077 XX
Founded in 1936
Core Laboratories N.V. Announces Auditor Changes
May 4 15
As disclosed in its definitive proxy statement filed on March 20, 2015, Core Laboratories N.V. intended to appoint KPMG to serve as the company's independent registered public accounting firm for the year ending December 31, 2016, subject to the negotiation and execution of a satisfactory engagement letter and the approval of the company's shareholders at its May 21, 2015 annual meeting. In connection with the company's engagement of KPMG, on April 29, 2015 (the dismissal date) the company dismissed PricewaterhouseCoopers LLP as the company's independent registered public accounting firm effective upon the issuance by PwC of their reports on the consolidated financial statements as of and for the year ended December 31, 2015 and the effectiveness of internal control over financial reporting as of December 31, 2015.
Core Laboratories Reports Unaudited Condensed Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter and Full Year of 2015
Apr 22 15
Core Laboratories NV reported unaudited condensed consolidated earnings results for the first quarter ended March 31, 2015. For the period, the company has posted revenue of $213,643,000 against $262,903,000 a year ago. Operating income was $42,717,000 against $82,827,000 a year ago. Income before income tax expense was $40,314,000 against $80,464,000 a year ago. Net income was $31,042,000 against $61,153,000 a year ago. Net income attributable to Core Laboratories N.V. was $31,399,000 against $61,064,000 a year ago. Diluted earnings per share were $0.72 against $1.35 a year ago. Cash flows from operating activities were $79,578,000 a year ago. Capital expenditures were $6,869,000.
The company provided earnings guidance for the second quarter and full year of 2015. The company projects EPS ranging between $0.76 and $0.81. Free cash flow for the second quarter is expected to exceed $60 million, significantly greater than projected net income. And all operational guidance excludes any foreign currency translation and any shares that may be repurchased other than those already disclosed and it assumes an effective tax rate in the quarter of 22.5%. The company expects CapEx program in 2015 to track client demand for services and products. So consequently, the company expects CapEx in 2015 to be lower than 2014.
Core Laboratories NV Declares Second Quarter Cash Dividend Payable on May 22, 2015
Apr 14 15
The Board of Supervisory Directors of Core Laboratories N.V. has announced a cash dividend of $0.55 per share of common stock payable in the second quarter of 2015. On an annualized basis, this second quarterly dividend would equal a total payout of $2.20 per share of common stock, if maintained for the entire year. The quarterly $0.55 per share cash dividend will be payable on 22 May 2015, to shareholders of record on 24 April 2015.