Amcol International 4Q Profit Increases 43 Percent on Growth in Its Oilfield Services Segment
Amcol International Corp., which makes and distributes specialty mineral products, on Friday said its fourth-quarter earnings rose 43 percent, due mostly to gains by the company’s oilfield services segment.
Quarterly earnings increased to $12 million, or 39 cents per share, from $8.4 million, or 27 cents per share during the same period last year.
Analysts polled by Thomson Financial forecast a profit of 34 cents per share.
Revenue grew 16 percent to $155.9 million from $134.6 million during the same period a year ago. Analysts expected revenue of $155.1 million.
The company said a pair of acquisitions helped drive sales from its oilfield services up by nearly 70 percent to $18.7 million. Sales from its minerals segment gained 9 percent to $79.3 million, while sales at the company’s environmental segment rose 20 percent to $51.1 million. Sales at its transportation segment fell 10 percent to $11.6 million.
For the year, Amcol earnings rose 22 percent to $50.2 million, or $1.62 per share, from $41 million, or $1.33 per share in 2005. Revenue grew 14 percent to $611.6 million from $535.9 million.
Analysts forecast a profit of $1.48 per share on revenue of $610.7 million.
