Earnings Release: NE
Although we own ATW and not NE, it is worth looking at to understand the sector.
* Earnings grew to $347.4 million, or $1.29 per share, from $199.7 million, or $0.74, last year. That's up 74% YoY and 9% sequentially. Earnings included a one-time $0.06 EPS cost due to a fire.
* Sales up 50% to $761M
* 80% of available rig time is booked for 2008.
Given the continued demand, I see nothing but positives for IO, NOV, ATW and others.
* Earnings grew to $347.4 million, or $1.29 per share, from $199.7 million, or $0.74, last year. That's up 74% YoY and 9% sequentially. Earnings included a one-time $0.06 EPS cost due to a fire.
* Sales up 50% to $761M
* 80% of available rig time is booked for 2008.
Given the continued demand, I see nothing but positives for IO, NOV, ATW and others.
posted by Andrew at
9:16 PM
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