Q1 EPS UP 0.21, GREAT GROWTHINCASE ANYONE MISSED THE Q1 RESULTS....
OVERVIEW OF FIRST QUARTER 2010
In Q1 2010, Canyon continued to implement its strategy of improving its market share in the deep basin of Northwest Alberta and Northeast British Columbia. Canyon's increased equipment fleet capacity, which averaged 50,000 hydraulic horsepower ("HHP") in Q1 2010, combined with a much improved operating environment for the well stimulation industry resulted in record total revenues and EBITDA before stock option expense of $41.5 million and $16.1 million, respectively. This represents a 72% revenue increase and a 303% EBITDA increase over Q1 2009. Average consolidated revenue per job increased to $62,646 in Q1 2010, representing 30% growth over the fourth quarter of 2009 and a 31% increase over Q1 2009. A shift to larger, higher-priced jobs and improved pricing were the leading factors for the strong revenue performance and higher average revenue per job.
Check out the news postings for FRC for more details...
BOTTOM LINE = 0.25 EPS (March 31, 2010) vs 0.04 EPS (March 31, 2009)