Home | Business News | Browse by Publication | B | Business Wire

Complete Production Services, Inc. Reports Second Quarter 2009 Results and Pay-Down of Revolving Credit Facility.

Publication: Business Wire
Publication Date: 05-AUG-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Complete Production Services, Inc. Reports Second Quarter 2009 Results and Pay-Down of Revolving Credit Facility.(Financial report)

Article Excerpt
HOUSTON -- Complete Production Services, Inc. (NYSE:CPX) today reported second quarter revenue of $238.4 million, EBITDA (as defined below) of $28.5 million, operating loss of $22.9 million and a net loss of $25.8 million, or $0.34 per diluted share. Second quarter results include $2.7 million of pre-tax, non-cash charges associated with fixed asset and inventory write downs.

"Despite very challenging market conditions, we continued to generate strong cash flow from operations," commented Joe Winkler, Chairman and CEO. "Minimizing capital expenditures, reducing working capital and continuing our cost savings initiatives enabled us to pay down the remaining $77.2 million balance on our revolving credit facility. Today we have no scheduled material principal payments on long-term debt until December 2016."

Revenue for the Completion and Production Services segment during the second quarter of 2009 was $196.4 million, down approximately 32% from the prior quarter due to...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from Business Wire
Clearswift Appoints VP, Worldwide Sales To Strengthen Global Sales Org..., August 05, 2009
AMD Delivers and Submits for Certification Industry's First OpenCL[TM]..., August 05, 2009
EpiCept Announces Filing of New Drug Submission for Approval of Ceplen..., August 05, 2009
Revenge, Mobsters-Style., August 05, 2009
StockTwits Selects SkyGrid to Power Real-time Financial News., August 05, 2009

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.