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CARBO Ceramics Inc. Announces Second Quarter 2011 Earnings
This increase is due to higher sales volume, an increase in the average proppant selling price and a higher contribution from other business units, partially offset by an increase in freight, selling, general and administrative expenses. Net income for the second quarter of 2011 increased 60 %, or USD 11,2 million, compared to the second quarter of 2010. CARBO’s ceramic proppant capacity expansion at Toomsboro Line 4 is tracking ahead of schedule, and completion is now expected near the beginning of the fourth quarter. Once completed, Line 4 will add 250 million pounds of ceramic capacity per year (1 pound = 0,453 kg) – increasing the total ceramic proppant capacity to 1,75 billion pounds per year. CARBO is the world’s largest supplier of ceramic proppant for fracturing oil and gas wells; provider of the industry’s most popular fracture simulation software; and a provider of fracture design and consulting services. The company also provides a broad range of technologies for spill prevention, containment and countermeasures, along with geotechnical monitoring (07/2011).