Newpark Resources announced unaudited consolidated earnings results for the quarter and nine months ended September 30, 2018. For the quarter, the company's revenue was $235,329,000 compared to $201,663,000 for the same period a year ago. Operating income was $10,054,000 compared to $9,882,000 for the same period a year ago. Income from operations before income taxes was $6,475,000 compared to $6,122,000 for the same period a year ago. Net income was $3,644,000 compared to $2,653,000 for the same period a year ago. Diluted income per common share was $0.04 compared to $0.03 for the same period a year ago. EBITDA (non-GAAP) was $21,734,000 compared to $19,462,000 for the same period a year ago.

For the nine months, the company's revenue was $698,884,000 compared to $543,374,000 for the same period a year ago. Operating income was $43,035,000 compared to $21,596,000 for the same period a year ago. Income from operations before income taxes was $31,782,000 compared to $10,251,000 for the same period a year ago. Net income was $21,712,000 compared to $3,302,000 for the same period a year ago. Diluted income per common share was $0.23 compared to diluted income per common share of $0.04 for the same period a year ago. Net cash provided by operating activities was $20,116,000 compared to $15,763,000 for the same period a year ago. Capital expenditures were $32,814,000 compared to $21,888,000 for the same period a year ago. EBITDA (non-GAAP) was $76,787,000 compared to $49,494,000 for the same period a year ago. Net debt as on September 30, 2018 was $136,155,000 compared to $104,123,000 for the same period a year ago.

The company expected its fourth quarter 2018 effective tax rate to be in the mid- to upper 30s, which is in a similar range to the year-to-date rate after adjusting for a few tax benefits, which the company do not expect to recur.

The company continued to expect full year 2018 CapEx of approximately $40 million. Roughly half of its full year capital expenditures will reflect growth investments, the majority of which consists of mat and rental fleet expansion.