Simmons Remains Sidelined on Core Laboratories (CLB) - PT to $115
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Core Lab Reports Q1 2016 Results:
April 20, 2016 5:11 PM EDTAMSTERDAM, April 20, 2016 /PRNewswire/ -- Core Laboratories N.V. (NYSE: "CLB US") (Euronext Amsterdam: "CLB NA") ("Core", "Core Lab", or the "Company") reported first quarter 2016 earnings per diluted share ("EPS") of $0.37, excluding foreign currency translations ("ex-fx"). First quarter 2016 net income, ex-fx, was $15,700,000, and revenue was $153,600,000, down sequentially 16% from fourth quarter 2015 levels, as North America rig count decreased over 35%, resulting in global rig count falling by 21%, during the quarter. The Company believes that global spending will fall 27% in 2016. Operating income, ex-fx, was $23,700,000, yielding operating margins, ex-fx, of over 15%. In accordance with generally accepted accounting principles ("GAAP"), which included all... More
