WASHINGTON (dpa-AFX) - Helmerich & Payne, Inc. (HP) posted first-quarter net income of $144.29 million or $1.32 per share compared to $104.15 million or $0.96 per share a year ago. Income from continuing operations for the quarter advanced to $144.3 million or $1.32 per share from $104.37 million or $0.96 per share in the previous year. On average, 23 analysts polled by Thomson Reuters expected the company to earn $1.16 per share for the quarter. Analysts' estimates typically exclude special items. Operating revenues for the three-month period rose to $732.59 million from $594.64 million in the same quarter a year earlier. Analysts anticipated revenues of $727.57 million for the quarter. President and chief executive officer Hans Helmerich, stated, 'We are pleased to announce strong first quarter results including an all-time record level of income from continuing operations. We also reached best ever levels for revenue and rig activity during this recent quarter. While we expect some moderation in this record breaking pace in the upcoming March quarter, we are gratified for the strong start for our 2012 fiscal year. Even with the uncertainty surrounding slumping natural gas prices and the anticipated softening in dry gas directed drilling in the U.S., we remain upbeat that our business model of providing premium drilling services will continue to prosper in 2012.'
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