Energy services holding company
said its second-quarter earnings fell 20.8% from the year-ago period, hurt by lower margins.
The company earned $19 million, or 25 cents a share, in the quarter, compared with $24 million, or 30 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting earnings of $29.2 million, or 35 cents a share.
Second-quarter revenue rose 1.2% from a year ago to $436 million. Analysts were expecting revenue of $433.4 million in the most recent quarter.
The company expects to earn $2.55 a share to $2.65 a share in the year 2006. Analysts were expecting earnings of $2.68 a share for the full year.
"Our second-quarter results reflect the impacts of gas prices, volatility and weather," the company said.
Second-quarter operating income fell 9.1% from a year ago to $60 million and operating margin declined 155.2 basis points to 13.8%.
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