Core Laboratories N.V. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015
January 28, 2016 at 02:37 am IST
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Core Laboratories N.V. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported revenue of $182,723,000 against $278,622,000 a year ago. Operating income was $23,642,000 against $90,449,000 a year ago. Income before income tax expense was $20,252,000 against $87,567,000 a year ago. Net income attributable to the company was $15,418,000 against $66,189,000 a year ago. Diluted earnings per share were $0.36 against $1.51 a year ago. Net cash provided by operating activities was $49,330,000 and capital expenditures were $4,521,000.
For the full year, the company reported revenue of $797,520,000 against $1,085,222,000 a year ago. Operating income was $161,070,000 against $346,531,000 a year ago. Income before income tax expense was $148,690,000 against $335,931,000 a year ago. Net income attributable to the company was $114,847,000 against $257,485,000 a year ago. Diluted earnings per share were $2.68 against $5.77 a year ago. Net cash provided by operating activities was $219,100,000 and capital expenditures were $22,797,000.
Core Laboratories Inc. is a provider of proprietary and patented reservoir description and production enhancement services and products for the oil and gas industry. The Company helps to evaluate and improve reservoir performance and increase oil and gas recovery from new and existing fields. It makes measurements of reservoir rocks, reservoir fluids (crude oil, natural gas and water) and their derived products. In addition, the Company assists clients in evaluating subsurface targets associated with carbon capture and sequestration projects or initiatives. The Company has two segments. Reservoir Description segment provides laboratory-based analytical and field services to characterize the properties of crude oil and crude oil-derived products for the oil and gas industry. In addition, it provides reservoir description capabilities. Production Enhancement segment provides integrated diagnostic services. The Company has approximately 70 offices in more than 50 countries.