Carbo Ceramics: 4Q Earnings Snapshot
HOUSTON (AP) _ Carbo Ceramics Inc. (CRR) on Thursday reported a loss of $20.7 million in its fourth quarter.
The Houston-based company said it had a loss of 76 cents per share. Losses, adjusted for non-recurring costs, were 68 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 50 cents per share.
The maker of material used to boost the output of oil and natural gas wells posted revenue of $49.6 million in the period.
For the year, the company reported that its loss narrowed to $74.5 million, or $2.76 per share. Revenue was reported as $210.7 million.
The company’s shares closed at $4.32. A year ago, they were trading at $7.91.