Core Laboratories Q1 Profit Rises

(RTTNews) - Core Laboratories NV (CLB) Wednesday reported first-quarter net income of $61.1 million or $1.35 per share, up from $56.5 million or $1.22 per share last year.

The company reported first-quarter pro-forma earnings of $1.45 per share. On average, 14 analysts polled by Thomson Reuters expected the company to earn $1.45 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter grew to $262.9 million from $260.9 million last year. Analysts estimated revenues of $283.02 million for the quarter.

Looking forward to the second quarter, Core Laboratories expects earnings of $1.48 to $1.53 per share and revenues of $280 million to $286 million. Analysts currently estimate earnings of $1.53 per share on revenues of $290.83 million for the quarter.

Core expects full-year 2014 revenue to be about $1.16 billion to $1.18, and earnings of $6.00 to $6.25 per share. Analysts currently estimate earnings of $6.23 to $1.18 billion for the quarter.