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HOUSTON (AP) — HOUSTON (AP) — Patterson-UTI Energy Inc. (PTEN) on Wednesday reported fourth-quarter net income of $100.1 million.
On a per-share basis, the Houston-based company said it had net income of 46 cents.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The provider of onshore contract drilling services posted revenue of $788.5 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $759.5 million.
For the year, the company reported profit of $154.7 million, or 70 cents per share. Revenue was reported as $2.65 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a PTEN">Zacks stock report on PTEN at https://www.zacks.com/ap/PTEN