The Rising Influence of Rising Affluence

[DewDiligence]

CLB reports 3Q14 results:

http://www.sec.gov/Archives/edgar/data/1000229/000100022914000110/exhibit99-1_pressreleaseq3.htm

In the third quarter of 2014, Core Laboratories N.V. posted the most profitable quarter in Company history. The record results were driven primarily by new, or recently introduced, technology and related services by Core’s Reservoir Description and Production Enhancement operations, in addition to Reservoir Management operations’ most profitable third quarter ever.

The Company posted all-time quarterly records for earnings per diluted share and net income. Core’s third quarter year-over-year EPS increased 13% to $1.53, excluding items referenced in the non-GAAP reconciliations.

Third quarter net income increased 9% to $67,900,000, ex-items, from the year-earlier period, while operating income, ex-items, increased 7% to $91,000,000 from the same year-ago quarter.

Revenue for the third quarter of 2014 increased to $276,100,000, 3.2% sequentially and 1% over the third quarter of 2013. Operating margins increased sequentially by 190 basis points while year-over-year margins increased 170 basis points to an all-time quarterly high of 33%, ex-items.

The recent insider buying (#msg-104746277, #msg-104864845, #msg-104969075) was a harbinger of these results.

I’ll have more to say after the CC tomorrow morning.