Newpark Resources Inc. (NR) posted first-quarter net income of $17.4 million or $0.18 per share, compared to $15.6 million or $0.16 per share in the comparable quarter last year.
Total revenues for the first quarter of 2013 increased 7.7% to $282.52 million from $262.34 million in the first quarter of 2012.
On average, analysts polled by Thomson Reuters expected the company to earn $0.17 per share on revenues of $278.24 million. Analysts' estimates typically exclude special items.
Further, the company' said its Board of Directors has authorized a second $50 million share repurchase program, following the $50 million repurchase program completed in the fourth quarter of 2012. Purchases under the new program will be funded with a combination of cash generated from operations and borrowings under the Company's revolving credit facility, and the repurchase program has no specific term.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.