SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Pastimes : John Dessauer's Investors World
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: polarisnh who wrote (2015)4/6/1999 1:39:00 PM
From: polarisnh  Read Replies (2) of 2346
 
OUCH!!! The stock is down almost $5 to $12!

Core Labs (CLB) sees 1999 income falling below 1998

HOUSTON, April 6 (Reuters) - Core Laboratories N.V., a consulting firm which analyzes oil and gas reserves, said Tuesday continuing oil sector weakness will push 1999 net income, especially in first half,
well below last year's levels.

But the company said it expects 1999 revenues to increase slightly over last year. In 1998, Core earned $20 million, or $0.71 per share, on revenues of $286.2 million.

Core added it will record about $6.5 million in charges in the first quarter ended March 31 on top of already announced $3.5 million charge related to the failed GeoScience merger. The new charge stems from asset write-downs, personnel reduction expenses, facility-related costs and other items.

Core terminated the $200 million merger deal in March, saying that Houston-based GeoScience did not meet conditions of the merger.

Core said it is addressing soft demand for oilfield products and services and may see a pickup in demand during the second half of the
year if clients' capital expenditures increase as expected.

Shares of Core closed at $17.63 on the New York Stock Exchange on Monday, below their 12-month high of $26.44 but above their 12-month low of $11.63.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News