RPC Inc. Q3 Profit Decreases, misses estimates

(RTTNews) - RPC Inc. (RES) announced a profit for third quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $18.32 million, or $0.08 per share. This compares with $69.34 million, or $0.32 per share, in last year's third quarter.

Excluding items, RPC Inc. reported adjusted earnings of $18.32 million or $0.08 per share for the period.

Analysts on average had expected the company to earn $0.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 28.1% to $330.42 million from $459.60 million last year.

RPC Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $18.32 Mln. vs. $69.34 Mln. last year. -EPS (Q3): $0.08 vs. $0.32 last year. -Analyst Estimates: $0.24 -Revenue (Q3): $330.42 Mln vs. $459.60 Mln last year.