Dynamic Materials (BOOM) Misses Q2 EPS by 18c

Dynamic Materials (NASDAQ: BOOM) reported Q2 EPS of ($0.10), $0.18 worse than the analyst estimate of $0.08. Revenue for the quarter came in at $44.7 million versus the consensus estimate of $44.82 million.

Kevin Longe, president and CEO, said, "In the face of challenging market conditions, both of our businesses achieved important strategic and operational objectives during the second quarter. At DynaEnergetics, field trials of the new DynaStage product have validated our concept of a factory-assembled perforating system that both lowers cost of operations and improves perforating performance. We have entered the final phases of these trials, which include ramping our supply chain and assembly operations to commercial production volumes, and adjusting our processes where necessary. We have received favorable feedback from our primary testing partners -- two leading wireline service companies -- and both have expressed interest in commercial deployment of the DynaStage system. We currently are discussing the details of potential supply agreements with both companies, and we anticipate entering formal contracts during the third or fourth quarter."

For earnings history and earnings-related data on Dynamic Materials (BOOM) click here.

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