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RPC Inc. (RES) filed Quarterly Report for the period ended 2011-09-30.
Rpc Inc. has a market cap of $2.78 billion; its shares were traded at around $18.74 with a P/E ratio of 9.9 and P/S ratio of 2.5. The dividend yield of Rpc Inc. stocks is 1.7%. Rpc Inc. had an annual average earning growth of 24.8% over the past 10 years. GuruFocus rated Rpc Inc. the business predictability rank of 4-star.
This is the annual revenues and earnings per share of RES over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of RES.
Highlight of Business Operations:
Income before income taxes increased to $132.7 million for the three months ended September 30, 2011 compared to $74.1 million in the same period of 2010 primarily because of higher revenues partially offset by an increase of $5.1 million in net losses on disposition of assets due to increased wear and tear on our equipment, particularly pressure pumping components. The effective tax rate for the three months ended September 30, 2011 was 37.4 percent compared to 37.6 percent in the same period of the prior year. Diluted earnings per share increased to $0.57 for the three months ended September 30, 2011 compared to $0.32 in the same period of 2010. Cash flows from operating activities were $142.1 million for the three months ended September 30, 2011 compared to $44.8 million in the same period of 2010 due to significantly higher net income partially offset by increased working capital requirements consistent with higher revenues and business activity levels. The notes payable to banks increased to $140.8 million as of September 30, 2011 compared to $108.3 million as of September 30, 2010.Revenues. Revenues for the three months ended September 30, 2011 increased 66.2 percent compared to the three months ended September 30, 2010. Domestic revenues increased 69.6 percent to $487.5 million compared to the same period in the prior year. The increases in revenues are due primarily to a larger fleet of revenue-producing equipment in several service lines, improved utilization across all our service lines and improved pricing. International revenues decreased 0.2 percent to $14.8 million for the three months ended September 30, 2011 compared to the same period in the prior year. Our international revenues are impacted by the timing of project initiation and their ultimate duration and can be volatile in nature.
Selling, general and administrative expenses. Selling, general and administrative expenses for the three months ended September 30, 2011 increased 12.4 percent to $37.2 million compared to $33.1 million for the three months ended September 30, 2010. This increase was primarily due to increases in total employment costs consistent with improved operating results. However, these costs as a percent of revenues decreased during the three months ended September 30, 2011 compared to the same period in the prior year due to the fixed nature of several of these expenses and our ability to leverage these costs over higher revenues.
Revenues. Revenues for the nine months ended September 30, 2011 increased 72.7 percent compared to the nine months ended September 30, 2010. Domestic revenues increased 79.1 percent to $1,294.9 million compared to the same period in the prior year. The increases in revenues are due primarily to a larger fleet of revenue-producing equipment, the expansion of customer relationships and improved pricing, particularly within our technical services segment. International revenues decreased 28.7 percent to $32.2 million for the nine months ended September 30, 2011 compared to the same period in the prior year. Our international revenues are impacted by the timing of project initiation and their ultimate duration and can be volatile in nature.
Selling, general and administrative expenses. Selling, general and administrative expenses for the nine months ended September 30, 2011 increased 20.8 percent to $109.2 million compared to $90.4 million for the same period in the prior year. This increase was primarily due to increases in total employment costs, including increased incentive compensation consistent with improved operating results. However, these costs as a percent of revenues decreased during the nine months ended September 30, 2011 compared to the same period in the prior year due to the fixed nature of several of these expenses and the ability to leverage these costs over higher revenues.
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