Plus   Neg

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
SiriusXM launched a new subscription package exclusively for college students at a steep discount, just ahead of the fall semester. The satellite-radio giant introduced the "Student Premier" Package that provides students with all the content in SiriusXM's "Premier Streaming" package for $4 per month. This is a 69 percent discount from the regular price of $12.99 per month for Premier Streaming. Apple Inc. warned that its newly launched titanium Apple Card can be easily damaged if not stored properly. The company advised that the card must be kept away from fabrics like leather and denim as they can cause permanent discoloration. The tech giant has posted a support page that provides instructions to users on how to protect and maintain their Apple Card. Southwire Co. LLC recalled about 3000 units of Garvin pop-up electrical outlet floor box kits for concerns of fire hazard. The company said the electrical receptacles can overheat when in use. Southwire already received three reports of the floor boxes overheating. However, there have been no injuries reported so far.
Follow RTT