CARBO Ceramics Third Quarter Results

CARBO Ceramics Inc. reported net income of USD 36,9 million, or USD 1,59 per diluted share, on revenues of USD 167,1 million for the quarter ended September 30, 2011.

The demand for high quality, high conductivity ceramic proppant continues to grow, as evidenced by the company's record ceramic proppant sales volume for the quarter. Regarding the commitment to capacity growth, the company is excited to commence production ahead of schedule at the company's newest 114 million kg production line at Toomsboro, Georgia plant. Revenues for the third quarter of 2011 increased 41 %, or USD 48,6 million, when compared to the third quarter of 2010. North American (defined as Canada and the US) proppant sales volume increased 31 % while international proppant sales volume increased 29 %, compared to the same period last year. Operating profit for the third quarter of 2011 increased 80 %, or USD 24,9 million, compared to the third quarter of 2010. This increase is due to higher sales volume, an increase in the average proppant selling price, a change in product mix and a higher contribution from other business units, partially offset by an increase in selling, general and administrative expenses. Net income for the third quarter of 2011 increased 83 %, or USD 16,7 million, compared to the third quarter of 2010 (10/2011).