WASHINGTON (dpa-AFX) - RPC Inc. (RES) reported higher first-quarter net income of $80.75 million or $0.37 per share, compared with $65.52 million or $0.30 per share last year. On average, 11 analysts polled by Thomson Reuters expected earnings per share of $0.34 for the quarter. Analysts' estimates typically exclude one-time items.
For the latest quarter, revenues rose 31.6 percent to $502.56 million from $381.76 million in the prior-year period, due to a larger fleet of revenue-producing equipment, higher activity levels, and a favorable job mix in several service lines. Analysts estimated revenues of $504.74 million for the quarter.
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