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Tetra Technologies sees full-year 2012 earnings of 70-90 cents per share


Tetra Technologies (NYSE:TTI) reported Wednesday that 2012 earnings from continuing operations are expected to be around 70 to 90 cents per share, in line with analyst views, as the company sees the benefit from continued strength of shale-related activity in the US and abroad.

Analysts, on average, are looking for earnings of 78 cents per fully diluted share, with earnings of $886 million, according to Bloomberg.

The guidance excludes an expected pre-tax loss of $5 million, or four cents per share, due to the winding-down of its Maritech unit this year.

Tetra chief executive Stuart Brightman said: "Our earnings guidance reflects anticipated improvement in each of our service segments in 2012."

During the year, the company said it foresees benefits from continued strength of shale-related activity onshore in the US and increased activity in international markets with improved conditions in the Gulf of Mexico abandonment and decommissioning market.
For the fluids unit – which makes clear brine fluids and additives – the company forecasted revenues in the mid range of $330 million and $44 million in pre-tax profit.

Tetra Technologies noted the main contributors to this anticipated improvement are continued strength in its onshore fluids market linked to shale activity in the US, improved operating performance from the El Dorado calcium chloride plant, and increased completion activity in the deepwater Gulf of Mexico.
The company predicts revenue from its offshore services segment to reach $335 million, helped by its Hedron heavy lift barge which the company acquired in July 2011.

Revenues at its production testing unit are forecasted to be roughly $175 million, while Tetra foresees sales in its compressco division around $100 million, as the oil and gas company focuses on cutting its costs and improving margins.

Tetra, based in Woodlands, Texas, is a diversified oil and gas services company offering niche products and services focused on well completion and late-life production enhancement and decommissioning.

It is the world's largest producer and distributer of calcium chloride which it supplies feedstocks for its completion fluids unit and other markets.

Quick facts: Tetra Tech

Price: 120.39 USD

Market: NASDAQ
Market Cap: $6.47 billion

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