Core Laboratories: 1Q Earnings Snapshot

AMSTERDAM (AP) _ Core Laboratories NV (CLB) on Wednesday reported first-quarter net income of $40.5 million.

On a per-share basis, the Amsterdam-based company said it had net income of 91 cents. Earnings, adjusted for non-recurring gains and to account for discontinued operations, came to 44 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.

The energy services company posted revenue of $169.2 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $166.2 million.

For the current quarter ending in July, Core Laboratories expects its per-share earnings to range from 47 cents to 50 cents.

The company said it expects revenue in the range of $172 million to $175 million for the fiscal second quarter.

Core Laboratories shares have climbed 22 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $72.93, a drop of 38 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CLB at https://www.zacks.com/ap/CLB