Tetra posted a net income of $22.9 million, or 30 cents a share, on revenue of $258.1 million. Earnings per share were 22 cents less than analysts expected. Second-quarter net income last year was $29.2 million, or 39 cents per share, on revenue of $207.1 million.
Tetra was one of several energy companies to fall short of analysts' expectations Friday. Standing out to a lesser extent was Genesis Energy LP (AMEX: GEL), which posted a net loss of $1.4 million, or 9 cents per share, for the second quarter of 2007, compared to net income of $3.4 million or 24 cents in 2006. Analysts were expecting 16 cents per share.
Just before 2 p.m. Friday, shares of Tetra were selling at $19.44, nearly $7 under Thursday's close of $26.41.
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