July 31, 2018 / 10:05 AM / in 3 months

Frac sand producer U.S. Silica reports 40 pct fall in quarterly profit

July 31 (Reuters) - U.S. Silica Holdings Inc, which produces commercial silica used in the oil and gas industry, reported a 40 percent drop in quarterly profit on Tuesday, hit by higher expenses and merger related charges.

Net income fell to $17.6 million, or 22 cents per share in the second-quarter ended June 30, from $29.5 million, or 36 cents per share, a year earlier.

Total sales rose to $427.4 million from $290.5 million.

Reporting by Laharee Chatterjee in Bengaluru; Editing by Shailesh Kuber

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