Offshore ProductsOffshore products generated revenues and EBITDA of $237.3 million and $40.4 million in the fourth quarter of 2012 compared to revenues and EBITDA of $186.1 million and $37.5 million, respectively, in the fourth quarter of 2011. Revenues and EBITDA increased 27% and 8% year-over-year, respectively, primarily due to a revenue mix favoring our connector products and production equipment coupled with contributions from Piper Valves which was acquired in July 2012. Our EBITDA margin percentage decreased to 17% in the fourth quarter of 2012 compared to 20% in the fourth quarter of 2011 largely due to a mix of revenues which included greater conductor casing sales year-over-year coupled with negative inventory adjustments totaling $2.5 million. Backlog totaled $561 million at December 31, 2012 compared to $597 million reported at September 30, 2012 and $535 million reported at December 31, 2011. Major backlog additions during the quarter included connector product orders, production equipment and deck equipment orders.
Oil States Announces Fourth Quarter Earnings
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