Precision Drilling Q1 Profit Up, But Misses Estimates - Quick Facts

(RTTNews) - Precision Drilling Corp. (PD.TO, PDS), a provider of oil and natural gas drilling and drilling-related services, Monday reported higher earnings for the first-quarter, reflecting growth in sales. Net earnings for the quarter rose to C$102 million, or C$0.35 per share from C$93 million, or C$0.33 per share, in the first quarter of 2013.On average, 12 analysts polled by Thomson Reuters expected earnings per share of C$0.36 for the quarter . Analysts' estimates typically exclude one-time items.

Owing to higher pricing and drilling activity in Canada, the U.S. and international markets, first-quarter revenues rose by 13 percent to C$672 million from C$595million in the year-ago quarter. Analysts estimated revenues of C$663.40 million for the quarter.

In addition, the board declared a second - quarter dividend of C$0.06 per share, payable on May 26, 2014, to shareholders of record on May 14, 2014.