CLB 2018 Annual Report

F-4 CORE LABORATORIES N.V. CONSOLIDATED STATEMENTS OF OPERATIONS For the Years Ended December 31, 2018, 2017 and 2016 (In thousands, except per share data) 2018 2017 2016 REVENUE: Services $ 486,820 $ 480,264 $ 468,388 Product sales 214,026 167,555 121,844 Total Revenue 700,846 647,819 590,232 OPERATING EXPENSES: Cost of services, exclusive of depreciation shown below 343,833 333,365 329,520 Cost of product sales, exclusive of depreciation shown below 153,131 131,593 107,983 General and administrative expenses, exclusive of depreciation shown below 62,910 47,737 39,390 Depreciation 22,013 23,605 25,445 Amortization 1,074 919 843 Other (income) expense, net (737) 632 (400) OPERATING INCOME 118,622 109,968 87,451 Interest expense 13,328 10,734 11,572 Income before income tax expense 105,294 99,234 75,879 Income tax expense 25,447 18,249 10,855 Income from continuing operations 79,847 80,985 65,024 Income (loss) from discontinued operations (58) 2,111 (1,165) Net income 79,789 83,096 63,859 Net income (loss) attributable to non-controlling interest 263 (29) (36) Net income attributable to Core Laboratories N.V. $ 79,526 $ 83,125 $ 63,895 EARNINGS PER SHARE INFORMATION: Basic earnings per share from continuing operations $ 1.81 $ 1.83 $ 1.50 Basic earnings (loss) per share from discontinued operations $ (0.01) $ 0.05 $ (0.03) Basic earnings per share attributable to Core Laboratories N.V. $ 1.80 $ 1.88 $ 1.47 Diluted earnings per share from continuing operations $ 1.80 $ 1.83 $ 1.49 Diluted earnings (loss) per share from discontinued operations $ (0.01) $ 0.05 $ (0.03) Diluted earnings per share attributable to Core Laboratories N.V. $ 1.79 $ 1.88 $ 1.46 Cash dividends per share $ 2.20 $ 2.20 $ 2.20 WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: Basic 44,206 44,153 43,479 Diluted 44,474 44,264 43,670 The accompanying notes are an integral part of these Consolidated Financial Statements.