RPC Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported revenues of $469,942,000 compared to $482,782,000 a year ago. Operating profit was $89,307,000 compared to $122,034,000 a year ago. Income before income taxes was $90,054,000 compared to $122,298,000 a year ago. Net income was $55,381,000 or $0.26 basic and diluted per share compared to $74,581,000 or $0.34 basic and diluted per share a year ago. EBITDA was $145,635,000 or $0.67 diluted per share compared to $171,784,000 or $0.78 diluted per share a year ago. Revenues decreased due to lower activity levels and increasingly competitive pricing in most of service lines, partially offset by a larger fleet of revenue-producing equipment primarily in pressure pumping service line. Capital expenditure was $55 million.

For the year, the company reported revenues of $1,945,023,000 compared to $1,809,807,000 a year ago. Operating profit was $442,390,000 compared to $482,081,000 a year ago. Income before income taxes was $442,619,000 compared to $478,815,000 a year ago. Net income was $274,436,000 or $1.27 diluted per share compared to $296,381,000 or $1.35 diluted per share a year ago. EBITDA was $659,464,000 or $3.04 diluted per share compared to $662,155,000 or $3.01 diluted per share a year ago. Capital expenditure was $329 million.

The company expect to spend approximately $300 million on capital expenditures in 2013. Of this amount, approximately 50% will be used to maintain pressure pumping fleet and other operating and support equipment. Growth in capital expenditures for 2013 will depend upon identifying attractive opportunities and ultimate timing of payments and equipment deliveries.