W-H Energy Services, a diversified oilfield service company, has reported net income of $34.7 million, or $1.11 per share, for the third quarter of 2007, compared to $31.5 million, or $1.02 per share, for the same period in 2006.
While the results for the third quarter slightly exceeded the company’s revised guidance of $1.06 to $1.10 per share, the improvement was primarily due to a lower than anticipated tax rate.
The company projects that earnings per share will range from $1.07 to $1.12 for the quarter ending December 31, 2007. The company reported the revenues for the third quarter of $283 million were 19% higher than the third quarter of 2006 and were 2% higher than the preceding quarter.
The company reported that domestic revenues increased 17% compared to the third quarter of last year and were 1% higher than the preceding quarter. International revenues also increased 30% compared to the third quarter of last year and were 9% higher than the preceding quarter.