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Newpark: 1Q Earnings Snapshot

Newpark: 1Q Earnings Snapshot

Associated Press

THE WOODLANDS, Texas (AP) _ Newpark Resources Inc. (NR) on Thursday reported first-quarter earnings of $1.3 million.

On a per-share basis, the The Woodlands, Texas-based company said it had profit of 1 cent. Earnings, adjusted for non-recurring costs and severance costs, came to 4 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.

The oil and gas industry supplier posted revenue of $211.5 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $223.6 million.

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Newpark shares have risen 24 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $8.51, a fall of 12 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NR at https://www.zacks.com/ap/NR