CORE LAB REPORTS FOURTH QUARTER AND FULL YEAR 2022 RESULTS FROM CONTINUING OPERATIONS

Provided By PR Newswire

Last update: Feb 1, 2023

AMSTERDAM, Feb. 1, 2023 /PRNewswire/ -- Core Laboratories N.V. (NYSE: CLB) ("Core", "Core Lab", or the "Company") reported fourth quarter 2022 revenue of $127,600,000. Core's operating income was $15,600,000, with diluted earnings per share ("EPS") of $0.14, all in accordance with U.S. generally accepted accounting principles ("GAAP"). The financial results for the fourth quarter of 2022 include a non-cash adjustment of $1,900,000, decreasing stock compensation expense associated with performance share awards that vested during the quarter. Operating income, ex-items, a non-GAAP financial measure, was $14,700,000, yielding operating margins of 12%, and EPS, ex-items, of $0.20. A full reconciliation of non-GAAP financial measures is included in the attached financial tables.