HOUSTON (AP) _ Carbo Ceramics Inc. (CRR) on Friday reported a loss of $29.4 million in its third quarter.
The Houston-based company said it had a loss of $1.03 per share. Losses, adjusted for asset impairment costs, came to 58 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 50 cents per share.
The maker of material used to boost the output of oil and natural gas wells posted revenue of $43.5 million in the period.
In the final minutes of trading on Friday, the company's shares hit $1.56. A year ago, they were trading at $4.95.