Superior Drilling Products, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 06:30 am EDT
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Superior Drilling Products, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 5.37 million compared to USD 4.54 million a year ago. Revenue was USD 5.37 million compared to USD 4.54 million a year ago. Net income was USD 0.323167 million compared to net loss of USD 0.056508 million a year ago. Basic earnings per share from continuing operations was USD 0.01. Diluted earnings per share from continuing operations was USD 0.01.
For the six months, sales was USD 11.65 million compared to USD 8.67 million a year ago. Revenue was USD 11.65 million compared to USD 8.67 million a year ago. Net income was USD 1.84 million compared to USD 0.093329 million 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. 
