Natural Gas Services Q1 Profit Down - Quick Facts

(RTTNews) - Natural Gas Services Group Inc. (NGS), a provider of gas compression equipment and services to the natural gas industry, said that net income for the first-quarter of 2014 decreased 28% to $2.9 million, from $4.0 million in the same period in 2013. This decrease was primarily because of the noted lower compressor sales in this period and a higher depreciation expense. Earnings per share dropped to $0.23 from $0.32 last year.

Total revenue for the quarter was $22.32 million, down from $23.98 million in the prior year quarter. This change was attributable to a decrease in sales revenue to $3.3 million compared to $7.8 million last year. Rental revenues, however, increased 17% in the same year-over-year period.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.23 per share and revenues of $23.03 million for the quarter. Analysts' estimates typically exclude special items.