RPC, Inc. (RES: Quote) Wednesday reported fourth-quarter profit of $55.38 million or $0.26 per share, down from $74.58 million or $0.34 per share in the same period last year.
On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.24 per share for the quarter. Analysts’ estimates typically exclude special items.
Revenues dropped to $469.94 million from $482.78 million last year. Analysts expected revenues of $453.83 million.
The Board of RPC has also increased its regular quarterly cash dividend to $0.10 per share, up 25.0 percent from previous dividend of $0.08 per share. The dividend is payable March 8 to common stockholders on record February 8. In addition to regular quarterly dividend, RPC had also paid a special year-end cash dividend of $0.20 in December.
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by RTT Staff Writer
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