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Carbo Ceramics Q1 Net Loss Narrows

Technology company Carbo Ceramics Inc. (CRR) Thursday reported net loss of $19.99 million for the first quarter, narrower than $22.27 million in the prior year.

On a per share basis, loss narrowed to $0.73 from $0.83 in the previous period.

Revenue for the period declined 4 percent to $47.45 million from $49.37 million in the same period last year.

CEO Gary Kolstad noted that, "…oilfield sector revenue was down year-on-year due to lower North America activity, international product sales grew in the first quarter of 2019 compared to the first quarter of 2018."

The company said it expects a sequentially stronger second quarter primarily due to higher ceramic technology sales.

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