Boston, MA 05\/12\/2014 (wallstreetpr) \u2013 \u00a0Core Laboratories N.V. (NYSE:CLB)<\/b> is hitting a bottom today after it filed Form 8K with the U.S. Securities and Exchange Commission, wherein it revised its earlier guidance for the second quarter and full year 2014 downwards.<\/p>\n
Guidance Below Consensus<\/b><\/p>\n
As per the revised statement, the oil and gas company now anticipates net income for the quarter ending on June, 2014 to fall in the range of $1.32 to $1.35 per share. The revenue for the quarter is expected between $265-$270 million. Both the net income and revenue guidance came below the analyst estimate of $1.52 per share and $287.99 million respectively. At the same time, the company now guides the earnings for fiscal year 2014 in the range of $5.80 to $6.00 a share, which is below the analysts’ forecast of $6.20 per share. The revenue for the full year 2014 is projected at $1.1 billion, which is again below par with the market consensus of $1.16 billion.<\/p>\n
Core Laboratories N.V. (NYSE:CLB) <\/b>mentioned that the revision in its guidance for the revenue and EPS has been driven by the lower project sampling and analyzing by the North American clients of the reservoir fluids from the company’s established non-traditional plays in Bakken, Marcellus, Montney, Eagle Ford and Niabrara formations, as earlier expected. The company continues to project increase in the number of reservoir fluid and core samples from the Permian basin, which will not be able to counter balance the declines as mentioned in the aforementioned markets.<\/p>\n
Disappointing April<\/b><\/p>\n
Earlier Core Laboratories N.V. (NYSE:CLB) had based out its second quarter guidance on the encouraging March results, which followed the weather affected results from February, and improving North American activity levels. However, an uninspiring April month led the company to pull down its earlier outlook. The company expects to see increased activity in its unconventional plays like Woodford of south central Oklahoma (SCOOP), Codell and Parkman formations, Sprayberry, Tuscaloosa Marine Shale (TMS) formations, among others, in the second half of the year.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 05\/12\/2014 (wallstreetpr) \u2013 \u00a0Core Laboratories N.V. (NYSE:CLB) is hitting a bottom today after it filed Form 8K with the U.S. Securities and Exchange […]<\/p>\n","protected":false},"author":2,"featured_media":21944,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[6539,6540],"stock_ticker":[],"class_list":["post-21940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-core-laboratories-n-v-nyseclb","tag-nyseclb","entry"],"acf":[],"yoast_head":"\n