Boots & Coots posts spike in 2nd-quarter profit; revenue climbs 50 percent

Boots & Coots posts spike in 2Q profit

HOUSTON — Oil and gas exploration company Boots & Coots Inc. reported a spike in second-quarter profits Thursday, boosted by growing revenue across its businesses.

The company posted net income of $6.2 million, or 8 cents per share, up from $719,000, or a penny per share, in the same period a year ago. Analysts surveyed by Thomson Reuters expected income of 6 cents per share.

Revenue jumped more than 50 percent to $70.9 million from $47 million.

Shares dipped a penny to $2.97 in afternoon trading.