RPC, Inc. Q4 Profit Beats Estimates

(RTTNews) - RPC, Inc. (RES) reported fourth quarter net income of $12.3 million, or $0.06 per share, compared to a net loss of $10.2 million, or $0.05 loss per share, prior year. The prior year quarter adjusted net loss was $6.8 million, or $0.03 per share.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.03, for the quarter. Analysts' estimates typically exclude special items.

Revenues were $268.3 million, an increase of 80.5 percent compared to $148.6 million, prior year, due to higher customer activity levels resulting in higher utilization of existing equipment and pricing improvements. Analysts on average had estimated $240.32 million in revenue.