Natural Gas Services Group (NGS) Reports In-Line Q1 EPS

Natural Gas Services Group (NYSE: NGS) reported Q1 EPS of $0.23, in-line with the analyst estimate of $0.23. Revenue for the quarter came in at $22.3 million versus the consensus estimate of $23.03 million.

Commenting on first quarter 2014 results, Stephen C. Taylor, President and CEO, said:

"Our annual rental revenue growth of 17% continues to be strong, but we did see some sales variability in comparative quarters. Fluctuating sales revenues are not unusual, but we are fortunately starting to see a good pick-up in our backlog that should lead to increased sales levels in the last half of the year. We experienced a lower level of rental activity in our traditional dry gas areas, but new activity in oil-shale and liquids oriented basins continues at a brisk pace, Rental gross margins increased in the current quarter and we are on-track with the rental fabrication expansion announced last quarter. We anticipate continual growth throughout the year."

For earnings history and earnings-related data on Natural Gas Services Group (NGS) click here.

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