W-H Energy profit edges higher on growth at both divisions

Net income for the three months ended March 31 rose to $37.1 million, or $1.18 per share, from $35.8 million, or $1.16 per share, during the same period a year earlier.

Revenue rose to $301 million from $272.9 million a year earlier.

Analysts expected the company to earn $1.20 per share on revenue of $304 million, on average, according to a survey by Thomson Financial.

Sales at the drilling segment rose 8 percent to $194.3 million, while completion and workover revenue increased 14 percent to $106.7 million, the company said.