Core Laboratories N.V. Common SharesNLG Reports Operating Results (10-Q)
Core Laboratories N.v. has a market cap of $5.43 billion; its shares were traded at around $108.43 with a P/E ratio of 29.1 and P/S ratio of 6. The dividend yield of Core Laboratories N.v. stocks is 1%. Core Laboratories N.v. had an annual average earning growth of 26.7% over the past 10 years. GuruFocus rated Core Laboratories N.v. the business predictability rank of 4-star.
Highlight of Business Operations:Services revenue increased to $175.7 million for the second quarter of 2012, up 12% when compared to $156.8 million for the second quarter of 2011. For the six months ended June 30, 2012, services revenue increased to $338.4 million, up 13% when compared to $298.3 million for the same period of 2011. The increase in services revenue was primarily due to our continued focus on worldwide crude-oil related and large natural gas for liquefaction projects, especially those related to the development of deepwater fields offshore West and East Africa, the eastern Mediterranean, and the Gulf of Mexico.
Revenue from the Reservoir Description segment increased 6%, or $7.7 million, to $126.5 million in the second quarter of 2012, compared to $118.8 million in the second quarter of 2011. For the six months ended June 30, 2012, revenues increased 7%, or $16.2 million, to $242.6 million, compared to $226.4 million in the same period of 2011. This segment s operations, which focus on international crude-oil related products, continued to benefit from large-scale core analyses and reservoir fluids characterization studies in the Asia-Pacific areas, offshore West and East Africa, the Eastern Mediterranean region and the Middle East, including Iraq, Kuwait, and the United Arab Emirates.
Revenue from the Production Enhancement segment increased by 12%, or $10.8 million, to $99.5 million in the second quarter of 2012 compared to $88.8 million in the second quarter of 2011. Revenues increased by 15%, or $25.4 million, to $196.3 million for the six months ended June 30, 2012, compared to $170.9 million in the same period of 2011. The revenue increase was primarily due to demand for our stimulation diagnostic services both for fracture diagnostics in North America and flood diagnostics internationally.
Operating income in the second quarter of 2012 increased by 21%, or $5.1 million, to $29.6 million from $24.5 million for the second quarter of 2011. For the six months ended June 30, 2012, operating income increased by 32%, to $63.1 million over the same period of 2011. Operating margins increased to 30% in the second quarter of 2012 from 28% for the same period in 2011. The increase in operating income from 2011 to 2012 was primarily driven by increased revenue from services related to our proprietary and patented diagnostic technologies, such as SpectraChem® Plus+, SpectraScan®, ZeroWash®, our HERO™ line of perforating charges and gun systems and our HTD-Blast™ perforating system, which is used for the perforation of extended-reach horizontal wells in non-conventional reservoirs.
Revenue from the Reservoir Management segment increased by 15% to $21.0 million in the second quarter of 2012 compared to $18.2 million for the second quarter of 2011. Revenues for the six months ended June 30, 2012 increased by 20% to $42.3 million compared to $35.3 million for the same period of 2011. The increase in revenue was due to ongoing interest in several of our existing multi-client reservoir studies such as the Tight Oil Reservoirs of the Midland Basin study and the Eagle Ford Shale study along with studies of African east coast reservoirs potentials.
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