Oilfield services sales drive Amcol Int'l profit

Specialty mineral producer Amcol International Corp. said Friday its second-quarter earnings rose 19 percent, as soaring energy prices and higher costs were offset by surging sales in its oilfield services segment.

The company earned $17.9 million, or 58 cents per share, compared with $15 million, or 48 cents per share, in the year-ago quarter.

Analysts were expecting a profit of 51 cents per share, according to a poll by Thomson Financial.

Revenue jumped 28 percent to $233.8 million, from $182.5 million a year earlier.

The company said an acquisition helped boost sales in its oilfield services segment, which rents equipment and produces water treatment and well testing products for the oil and gas industry. The unit's total sales leaped 64 percent in the period.

But gains were partially offset by margins that were squeezed by higher energy costs, and increased costs related to research and development, benefits, acquisitions and technology.