Newpark Resources to Exceed First Quarter Estimates
METAIRIE, La., March 27 /PRNewswire/ -- Newpark Resources, Inc. (NYSE: NR) anticipates that first quarter results will exceed the consensus of analysts' estimates, according to James D. Cole, Chairman and CEO. "We expect first quarter revenue to approach $100 million, and believe that earnings for the quarter will be $.10 per share compared to the $.08 consensus held by the investment community," he said.
Cole attributed the Company's better-than-expected performance to increased sales of the Company's new composite mat system in the quarter, favorable price and volume trends in its Gulf Coast mat rental business, and improved results in the Company's Drilling Fluids operations.
Newpark Resources, Inc. provides integrated fluids management, environmental and oilfield services to the exploration and production industry.
The foregoing discussion contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. There are risks and uncertainties that could cause future events and results to differ materially from those anticipated by management in the forward-looking statements included in this press release. For further information regarding these and other factors, risks and uncertainties affecting Newpark, reference is made to the risk factors set forth in the Prospectus dated August 30, 2000, included in Newpark's Registration Statement on Form S-3 (File No. 333-39978), and to the section entitled "Forward Looking Statements" on page 17 of that Prospectus. In particular, as described on page 8 of that Prospectus, any material decline in the level of oil and gas exploration and production activity could result in fewer opportunities being available for the service industry in general and Newpark in particular, and may adversely affect the demand for our services. In addition, as described on page 13 of that Prospectus, and rescission or relaxation of governmental regulations, including any delays in implementing the new discharge regulations, could reduce the demand for Newpark's services and reduce Newpark's revenues and income. You are strongly urged to review these sections for a more detailed discussion of these risks and uncertainties. Newpark's SEC filings can be obtained at no charge at http://www.sec.gov, as well as through our Website, http://www.newpark.com. SOURCE Newpark Resources, Inc.
CONTACT: Company - Matthew W. Hardey, Vice President of Finance of Newpark Resources, 504-838-8222; or New York - Ron Hengen of R. F. Hengen,