Oil prices collapsed to the lowest in nearly two decades as Saudi Arabia moved to further increase production amid a crash in global energy demand, raising the specter of bankruptcies and layoffs in the oil industry.
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Carbo Looks Ahead to Market Success
Carbo Ceramics Inc. reported adjusted net income of $16.1 million, or $0.70 per share, excluding certain asset write-downs and other adjustments of $15.7 million, or $0.68 per share, on revenues of $167.8 million for the quarter ended Dec. 31, 2014. Reported net income for the fourth quarter of 2014 was $0.4 million, or $0.02 per diluted share.
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