Superior Drilling Products, Inc. Revenue Increased 7% to $5.1 Million in Third Quarter 2019
Superior Drilling Products, Inc. (SDPI)
NASDAQ:AMEX Investor Relations:
sdpi.com
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Source: Business Wire
Contract Services revenue increased 34% over prior-year periodMiddle East revenue up 44% over the trailing quarterGenerated $1.0 million in cash from operations in the quarterLong-term debt reduced 46% to a pro forma $3.4 million in 2019, following payment on Hard Rock note subsequent to end of quarter VERNAL, Utah--(BUSINESS WIRE)--Superior Drilling Products, Inc. (NYSE American: SDPI) (“SDP” or the “Company”), a designer and manufacturer of drilling tool technologies, today reported financial results for the third quarter ended September 30, 2019. Prior-year periods are restated to reflect the write-down of the Tronco loan asset as of August 2017.Troy Meier, Chairman and CEO, noted, “We made significant progress in the Middle East during the quarter, expanding the fleet of our patented Drill-N-Ream® (DNR) well bore conditioning tool and building up our team in the region. We have agreements with three oil field services companies to represent the tool in the Middle East North Afr
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