Tesco Corp. Surges on Record Quarter

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 |  About: Tesco Corporation (TESO)
by: FP Trading Desk

Tesco Corp. (NASDAQ:TESO) shares were up 8% Friday afternoon on the company's record-breaking first quarter, that was announced Thursday after market close.

Tesco Corporation, which specializes in providing services on oil well drilling reported net income for the quarter ended March 31, 2008 of C$10.7-million, or C$0.29 per diluted share. The company reported net income of C$11-million, or C$0.30 per diluted share, for the first quarter of 2007, and net income of C$6.6-million, or C$0.18 per diluted share for the fourth quarter of 2007.

The company said revenue of C$129.4-million was a quarterly record compared to revenue of C$114.3-million for the comparable period in 2007 and C$124.4-million in the fourth quarter of 2007.