Tesco Corporation Reports Q2 2012 Results

Tesco Corporation ("TESCO" or the "Company") today reported net income for the quarter ended June 30, 2012, of $13.1 million or $0.34 per diluted share. This compares to net income of $7.4 million and $14.4 million, or $0.19 and $0.37 per diluted share, for the second quarter of 2011 and the first quarter of 2012, respectively. Revenue was $136.7 million for the quarter ended June 30, 2012, compared to revenue of $117.3 million for the comparable period in 2011 and $152.4 million for the first quarter of 2012. This quarter's results include a $13.3 million pre-tax gain on the sale of the CASING DRILLING business.