Superior Drilling Products, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
August 13, 2021 at 07:45 am EDT
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Superior Drilling Products, Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced total revenue was USD 3.399 million compared to USD 2.024 million a year ago. Operating income was USD 116,345 compared to operating loss of USD 1.095 million a year ago. Net loss was USD 66,781 compared to USD 1.241 million a year ago. For the half year, total revenue was USD 5.823 million compared to USD 7.382 million a year ago. Operating loss was USD 840,258 compared to USD 831,161 a year ago. Net loss was USD 1.168 million compared to USD 1.043 million a year ago. Basic loss per share from continuing operations was USD 0.05 compared to USD 0.04 a year ago.
Superior Drilling Products, Inc. is a drilling and completion tool technology company engaged in providing cost saving solutions that drive production efficiencies for the oil and natural gas drilling industry. The Company designs, manufactures, repairs, and sells drilling tools in the United States, Canada, and the Middle East. Its drilling solutions include the patented Drill-N-Ream well bore conditioning tool and the patented Strider oscillation system technology. In addition, the Company is a manufacturer and refurbisher of PDC (polycrystalline diamond compact) drill bits for oil field service companies. The Company operates a drill tool fabrication facility, where it manufactures its solutions for the drilling industry, as well as customers' custom products. Its subsidiaries include Superior Drilling Solutions, LLC, Superior Design and Fabrication, LLC, Extreme Technologies, LLC, Meier Properties Series, LLC, Meier Leasing, LLC, and Hard Rock Solutions, LLC.
SUPERIOR DRILLING PRODUCTS, INC. 
