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COPYRIGHT 2003 Business Wire
Business Editors
HOUSTON--(BUSINESS WIRE)--July 31, 2003
W-H Energy Services, Inc. (NASDAQ:WHES) announced second quarter net income of $5.8 million ($0.21 per share) which is 44% higher than the $4.0 million ($0.15 per share) reported in the same period last year. In the preceding quarter, the Company reported net income of $5.9 million or $0.21 per share.
The Company projects that earnings per share will range from $0.21 to $0.25 for the quarter ending September 30, 2003. The Company believes that earnings will continue to be in this range until there is a marked change in Gulf of Mexico drilling activity.
Revenues for the second quarter of $96.8 million and operating income of $11.3 million were 32 percent and 40 percent higher than the second quarter of 2002, respectively. On a sequential basis, revenues increased by 2 percent while operating income remained approximately the same as the previous quarter.
Domestic revenues increased 44 percent over the second quarter of last year and were 5 percent higher than...
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