CARBO Ceramics Inc. announced unaudited earnings results for the third quarter and nine months ended Sept. 30, 2017. For the quarter, the company reported revenues of $50,173,000 against $20,241,000 a year ago. Operating loss was $51,365,000 against $30,490,000 a year ago. Loss before income taxes was $53,022,000 against $31,880,000 a year ago. Net loss was $52,706,000 or $1.97 basic and diluted per share against $19,950,000 or $0.81 per basic and diluted share a year ago. LBITDA was $39,575,000 against $18,451,000 a year ago. Adjusted LBITDA was $13,153,000 against $17,841,000 a year ago. The increase in revenue was primarily attributable to increases in frac sand sales, ceramic technology product sales, and environmental product sales. Operating loss for the third quarter of 2017 increased primarily due to a $26.7 million loss on the sale of Russian proppant business. The recorded loss was primarily due to a $33.3 million foreign currency cumulative translation loss that was reclassified from the balance sheet to the income statement. The increase to operating loss was offset by increased sales combined with a reduction in certain fixed structural costs, and a decrease in slowing and idling expenses. The company continued to see improvement in net cash used in operating activities which declined from $15.8 million in the second quarter of 2017 to $5.2 million in the third quarter of 2017.

For the nine months, the company reported revenues of $128,415,000 against $73,993,000 a year ago. Operating loss was $105,317,000 against $96,577,000 a year ago. Loss before income taxes was $110,499,000 against $100,303,000 a year ago. Net loss was $109,972,000 or $4.13 basic and diluted per share against $64,930,000 or $2.75 per basic and diluted share a year ago. LBITDA was $69,946,000 against $60,007,000 a year ago. Adjusted LBITDA was $42,320,000 against $52,659,000 a year ago.

The company expects a sequential increase in both revenue and operating cash flow for the fourth quarter of 2017.