Newspaper article THE JOURNAL RECORD

Helmerich & Payne Reports Sharply Higher Sales, Profits

Newspaper article THE JOURNAL RECORD

Helmerich & Payne Reports Sharply Higher Sales, Profits

Article excerpt

TULSA -- Helmerich & Payne Inc. Wednesday reported sharply higher revenues and earnings for the third quarter and first nine months of the fiscal year.

Net income for the third fiscal quarter ended June 30 was $13.16 million, or 53 cents per share, up from $4.58 million, or 19 cents per share, for the third quarter of the previous fiscal year. Revenues for the quarter totaled $106 million, up from $78.76 million.

Net income for the first nine months of the fiscal year totaled $35.28 million, or $1.43 per share, up from $14.8 million, or 60 cents per share, for the first nine months of the previous fiscal year.

Revenues for the first nine months of the fiscal year totaled $301.5 million, up from $238 million.

Results from all of the company business segments showed improvements from the third quarter from a year earlier. Operating profits were particularly dramatic in both the contract drilling and exploration and production.

Revenues from contract drilling for the quarter totaled $61. …

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