Allis-Chalmers Energy Reports Third Quarter 2008 Results and Provides Operational Outlook

HOUSTON, Oct 29, 2008 (BUSINESS WIRE) -- Allis-Chalmers Energy Inc. (ALY:ALYNews, chart, profile, moreLast: Delayed quote dataAdd to portfolioAnalyst Create alertInsiderDiscussFinancials Sponsored by:, , ) reported net income for the third quarter of 2008 of $12.3 million, or $0.35 per diluted share, compared to $13.0 million, or $0.37 per diluted share in the third quarter of 2007. Revenues for the third quarter of 2008 increased 20.5% to $178.3 million compared to $147.9 million for the third quarter of 2007.

Net income increased 16.6% in the third quarter of 2008 to $12.3 million, or $0.35 per diluted share, compared to $10.6 million, or $0.30 per diluted share in the second quarter of 2008. Revenues increased 9.3% in the third quarter of 2008 to $178.3 million compared to $163.1 million in the second quarter of 2008. Net income for the first nine months of 2008 was $30.9 million, or $0.87 per diluted share, compared to $44.7 million, or $1.29...
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