CARBO Ceramics Q1 Earnings Up ,Misses Estimates

(RTTNews) - CARBO Ceramics Inc. (CRR) Thursday reported a 5 percent growth in first-quarter earnings compared with last year. The company's net income rose 5 percent to $18.4 million, or $0.80 per share, from $17.5 million or $0.76 per share during the year-ago period. On average, 14 analysts polled by Thomson Reuters expected earnings per share of $0.87 for the quarter. Analysts' estimates typically exclude one-time items.

A s a result of a result of a favorable ceramic product mix, operating profit increased 8 percent to $ 27.4 million from $25.3 million during the prior-year period. With the increase in proppant sales volumes, first-quarter revenues were up 1 percent to $148.5 million from $147.6 million, last year. Analysts estimated revenues of $165.57 million for the quarter.

Looking ahead the firm remains positive on industry activity and ceramic sales volumes for the balance of 2014. Keeping in line The company expects ceramic volumes to increase for the second quarter of 2014 when compared with the first quarter of 2014 and also believes its pricing for product lines will remain relatively flat during the second quarter of 2014.