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. It operates through three segments: Reservoir Description, Production Enhancement, and Reservoir Management. The 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. The Production Enhancement segment includes services and products relating to reservoir well completions, perforations, stimulations, and p...
Amsterdam, 1077 XX
Founded in 1936
Core Laboratories N.V. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Provides Earnings Guidance for the Fourth Quarter of 2016
Oct 19 16
Core Laboratories N.V. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported revenue of $143,483,000 against $197,265,000 a year ago. Operating income was $21,488,000 against $46,818,000 a year ago. Income before income tax expense was $18,919,000 against $43,347,000 a year ago. Net income attributable to the company was $16,730,000 against $33,404,000 a year ago. Net cash provided by operating activities was $34,870,000 capital expenditures was $2,438,000 and free cash flow was $32,432,000. Diluted earnings per share were $0.38 against $0.78 a year ago.
For the nine months, the company reported revenue of $445,199,000 against $614,797,000 a year ago. Operating income was $64,655,000 against $137,428,000 a year ago. Income before income tax expense was $55,631,000 against $128,438,000 a year ago. Net income attributable to the company was $48,436,000 against $99,429,000 a year ago. Net cash provided by operating activities was $108,684,000 capital expenditures was $7,740,000 and free cash flow was $100,944,000. Diluted earnings per share were $1.11 against $2.31 a year ago.
For the fourth quarter of 2016, the company its revenue growth to ultimately outperform the increase in industry activity rates by 200 to 400 basis points. Core expects to generate incremental operating income margins of approximately 60% early in the activity recovery phase followed by historical incremental operating income margins of approximately 35% to 45% well into the recovery phase. With international activity weaknesses being offset by North American activity increases, Core projects flat fourth quarter revenue ranging from between $143,000,000 and $145,000,000, and EPS to range between $0.38 and $0.40, with a quarterly effective tax rate of approximately 6%. Free cash flow is expected to exceed net income as has been the case for the last nine quarters. Core is also expected to continue to make opportunistic repurchases of its shares using the free cash flow in excess of its dividend payments.
Core Laboratories N.V. Announces Cash Dividend for the Fourth Quarter of 2016, Payable on 22 November 2016
Oct 11 16
The Board of Supervisory Directors of Core Laboratories N.V. announced a cash dividend of $0.55 per share of common stock payable in the fourth quarter of 2016. The quarterly $0.55 per share cash dividend will be payable on 22 November 2016, to shareholders of record on 21 October 2016.
Core Laboratories NV to Report Q3, 2016 Results on Oct 19, 2016
Oct 4 16
Core Laboratories NV announced that they will report Q3, 2016 results at 5:00 PM, W. Europe Standard Time on Oct 19, 2016