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RPC profit beats estimates on demand for technical services
July 25, 2012 / 12:18 PM / 5 years ago

RPC profit beats estimates on demand for technical services

* Q2 EPS $0.33 vs est $0.30

* Q2 rev up 12.9 pct at 500.1 mln

July 25 (Reuters) - Oilfield services and equipment provider RPC Inc’s second-quarter profit beat analysts’ estimates as a larger fleet drove up revenue at its technical services segment.

Sales at the company’s biggest business, which provides well completion and maintenance services, rose about 14 percent for April-June.

Revenue rose 12.9 percent to $500 million.

Net income fell to $72.26 million, or 33 cents per share, from $73.2 million, or 33 cents per share, a year earlier.

Analysts on average had expected a profit of 30 cents per share on revenue of $501 million, according to Thomson Reuters I/B/E/S.

Shares of the company, valued at $2.68 billion, closed at $12.21 on Tuesday on the New York Stock Exchange. (Reporting By Vishal Krishnan Menon in Bangalore; Editing by Don Sebastian)

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