Net income from continuing operations was $174.7 million before a $13.1 million goodwill impairment charge in Canada, up 27% compared to 2006. Earnings per diluted share from continuing operations was $2.38 before the impairment charge of $0.18 per share versus $2.02 in 2006.
Fourth quarter revenue was $424.5 million, up 17% over the fourth quarter of 2006. Earnings before interest, taxes, depreciation, amortization and impairment charge (EBITDA) totaled $114.2 million in the fourth quarter of 2007, an increase of 11% over EBITDA in the fourth quarter of 2006. Fourth quarter income from continuing operations was $41.9 million, or $0.57 per diluted share before the Canadian goodwill impairment charge of $13.1 million or $0.18 per share, compared with income from continuing operations of $44.1 million, or $0.61 per diluted share, for the fourth quarter of 2006.
Joe Winkler, chairman and CEO of Complete Production Services, said: While we experienced some softness in the second half of the year, particularly in our drilling services and products segments, we finished the year with a 37% increase in revenue and a 39% increase in EBITDA. We also made meaningful investments in our operations that will benefit complete for years to come while lowering our leverage ratio.
