C&J Energy Services Inc. (CJES: Quote) Wednesday reported second quarter net income of $53 million or $0.99 per share, an increase from $33.2 million or $0.68 per share last year.
Results for the 2012 quarter included transaction costs of $0.01 per share, net of tax. The prior year included debt-related loss of $0.10 per share, net of tax.
Revenues for the quarter surged 53% to $278 million from $182 million a year ago.
Analysts polled by Thomson Reuters expected earnings of $0.92 per share on revenues of $274.37 million for the quarter. Analysts' estimates typically exclude special items.
Houston, Texas-based C&J Energy Services Inc. provides hydraulic fracturing, coiled tubing, and pressure pumping services to oil and natural gas companies.
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by RTT Staff Writer
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