SPN: Superior Energy, Super Earnings
Large Cap Watch List (Track at Marketocracy) member Superior Energy reported earnings:
Superior Energy Services, Inc. (NYSE: SPN) today announced record net income of $64.0 million and diluted earnings per share of $0.78 on revenues of $362.9 million, as compared to net income of $32.2 million, or $0.40 diluted earnings per share on revenues of $222.5 million for the first quarter of 2006. The results also compare favorably to the fourth quarter of 2006, in which net income was $62.2 million and diluted earnings per share was $0.76, on revenues of $319.1 million.
Analysts had been expecting the company to earn $0.75 on $346 million in revenue, suggesting that the Board of Directors has earned its raise. No guidance was provided in the press release, but the company is hosting a conference call today at 11:00 AM Eastern time.
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