Tesco Corporation reports record net income in Q2 2008

Fri. August 08, 2008; Posted: 06:13 AM

Aug 08, 2008 (M2 EQUITYBITES via COMTEX) -- TESO | Quote | Chart | News | PowerRating -- Tesco Corporation (Nasdaq:TESCO), a provider of technology based solutions for the upstream energy industry, on 7 August reported results for the second quarter of 2008 ended 30 June 2008.

Net income for the quarter was USD12.7m or USD0.34 per diluted share. This was in comparison with a net income of USD3.9m or USD0.10 per diluted share in the second quarter of 2007 and USD10.7m or USD0.29 per diluted share in the immediately, preceding first quarter of 2008.

For the first half of 2008 net income was USD23.4m or USD0.62 per diluted share, as compared with net income of USD14.9m or USD0.40 per diluted share in the first half of 2007.

Revenues for the quarter were USD126.2m, as compared with USD109.8m in the corresponding quarter of 2007 and USD129.4m in the first quarter of 2008. For the first half of 2008 revenues totalled USD255.5m, as compared with USD224.1m in the corresponding period of the prior year.

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For full details on Tesco Corp (TESO) click here. Tesco Corp (TESO) has Short Term PowerRatings of 3. Details on Tesco Corp (TESO) Short Term PowerRatings is available at This Link.

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