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Core Labs CEO on Earnings

Wednesday, 19 Oct 2011 | 6:33 PM ET
Core Labs Delivers Consistency
Mad Money's Cramer likes the consistent returns on this high tech stock, and drills down to find out more about the company's future in the oil patch, with Dave Demshur, Core Labs president/CEO.

In this roller coaster market, Cramer likes stocks that can give us consistency. Take Core Laboratories, which announced its third-quarter earnings after the bell Wednesday.

The oil and gas company reported $1 earnings per share excluding one-time items, beating expectations by 2 cents. Revenue was essentially in-line.

“The combination of our focus internationally on crude oil and new technologies in North America has really propelled us to another great quarter,” Core Labs' CEO Dave Demshur told Cramer.

The company is now seeing many international projects taking off, he added, in places like the west coast of Africa and off-shore of Africa's east coast.

Domestically, Core Labs has come up with some new technology in product enhancement.

“[It] enables our clients to drill longer, lateral, horizontal wells that produce more oil initially and more oil over the life of the well bore,” Demshur said.

He also sung the praises of the Utica and Bakken shales, as well as shales in Argentina and North Africa.

“International and domestic shale plays are on the march,” he said.

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