Core Laboratories N.V.(NYSE:CLB) is weaker in late trading after the company posted financial results fell short of analysts’ expectations despite being the most profitable Q1 in the company’s history.
Shares are down 5% at $202.95 in the after hours session, with a 52-week range of $133.02 – $221.00.
The provider of reservoir description, production enhancement and reservoir management services to the oil and gas industry reported Q1 net income attributable to CLB of $61.06 million or $1.35 per share, compared with $56.52 million or $1.22 per share in the prior-year period. Revenue was $262.9 million, up from $260.9 million in the same quarter last year.
Analysts polled by Capital IQ were expecting EPS of $1.46 on revenues of $283.02 million.
CLB said the record levels of earnings per diluted share, net income, and revenue in the current quarter were driven by year-over-year improvements for all three of the its operating segments.
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