This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Oil States International's CEO Discusses Q4 2011 Results - Earnings Call Transcript

I will now turn the call over to Cindy.

Cindy Taylor

Thank you, Patricia. And thanks to all of you for joining our call this morning.

I am pleased to report that Oil States generated record revenues and EBITDA in the fourth quarter both on a quarterly and full year basis. Current commodity prices were conducive to continued customer investment driving strong activity across all of our business lines. The strong demand coupled with the results of our strategic growth initiatives over the last two years led to our record earnings.

In 2011, we successfully grew the room count in accommodations segment by over 4500 rooms representing a 36% growth from year end 2010 level. Opportunity for investment remains strong and we look forward to continued organic room count expansions in Australia, Canada and in the U.S. shale plays.

Our offshore products segment also generated record quarterly revenues, EBITDA, EBITDA margin percentage and backlog. We entered the year with 535 -- we ended the year with $535 million of backlog in our offshore products segment, and we expect a strong pipeline of bidding opportunities to continue in 2012. Our well site services and tubular services business saw a minimal impact related to holiday downtime during the fourth quarter at complex completions and the active shale plays generated increased demand and pricing for our equipment and services.

During the fourth quarter of 2011, Oil States generated earnings of $1.72 per diluted share on $94 million of net income, $206 million of EBITDA, and $996 million in revenues. Consolidated operating income more than doubled to $153 million in the current quarter, up from $68 million in the fourth quarter of 2010. In addition, our gross margins improved to 25% from 21% a year ago.

At this time, Bradley will take you through details of our consolidated results and financial position. And then I will conclude our prepared remarks with a discussion of each of our segment and will give you our thoughts as to the current market outlook.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs