CARBO Ceramics Q2 Profit Dips - Quick Facts

(RTTNews) - CARBO Ceramics Inc.'s (CRR) second-quarter net income fell to $16.3 million, or $0.71 per share, from $31.92 million, or $1.38 per share, a year earlier. Operating profit for the quarter decreased 49 percent.

For the latest quarter, revenues of $153.74 million were 13 percent lower than the previous year's $177.61 million. This decline is chiefly attributed to two factors. First, ceramic proppant sales volumes were lower as a result of lower drilling activity. Second, CARBO experienced a decrease in the average proppant selling price for all proppants, the company added.