ex99-1.htm

Exhibit 99.1

	NEWS RELEASE
	Contacts:	Gregg Piontek, VP & CFO
		Newpark Resources, Inc.
		281-362-6800

FOR IMMEDIATE RELEASE		Ken Dennard, Managing Partner
		Karen Roan, SVP
		Dennard ▪ Lascar Associates
		713-529-6600

NEWPARK RESOURCES REPORTS NET INCOME OF $0.18 PER DILUTED SHARE FOR THE FIRST QUARTER 2013

Company announces new $50 million share repurchase program

THE WOODLANDS, TX – April 25, 2013 – Newpark Resources, Inc. (NYSE: NR) today announced results for its first quarter ended March 31, 2013. Total revenues for the first quarter of 2013 increased 7.7% to $283 million compared to $262 million in the first quarter of 2012. Net income for the first quarter of 2013 increased 11.1% to $17.4 million, or $0.18 per diluted share, from $15.6 million, or $0.16 per diluted share, in the first quarter of 2012.

Paul Howes, Newpark’s President and Chief Executive Officer, stated, “We are pleased with the strong start to 2013, achieving another record level of revenue in the first quarter. Revenues from our fluids segment grew 13% worldwide over last year’s first quarter. North American fluids revenues increased 10% over last year’s first quarter to $178 million, despite an 11% reduction in rig count, benefitting from our December 2012 acquisition of Alliance Drilling Fluids. International revenues from the fluids business were up 21% year-over-year, reflecting strong gains across all regions.

“Revenues in our mats segment declined in the first quarter, as we allocated the majority of the quarter’s composite mat production toward the expansion of our rental fleet, in preparation for the launch of our new spill containment system,” added Howes. “Meanwhile our Environmental Service business continued to deliver consistent results, benefitting from the strengthening activity levels in the Gulf of Mexico.”

SEGMENT RESULTS

The Fluids Systems and Engineering segment generated revenues of $247.3 million in the first quarter of 2013 compared to $218.5 million in the first quarter of 2012, a 13% increase. Segment operating income rose 62% to $22.6 million (9.1% operating margin) in the first quarter of 2013 compared to $14.0 million (6.4% operating margin) in the first quarter of 2012.

The Mats and Integrated Services segment generated revenues of $20.6 million in the first quarter of 2013 compared to $30.5 million in the first quarter of 2012, a 33% decrease. Segment operating income declined 41% to $8.5 million (41.2% operating margin) in the first quarter of 2013 compared to $14.3 million (47.0% operating margin) in the first quarter of 2012.

The Environmental Services segment generated revenues of $14.6 million in the first quarter of 2013 compared to $13.3 million in the first quarter of 2012, a 10% increase. Segment operating income was $3.5 million (24.0% operating margin) in the first quarter of 2013 compared to $3.6 million (26.9% operating margin) in the first quarter of 2012.

SHARE REPURCHASE PROGRAM

The Company’s Board of Directors has authorized a second $50 million share repurchase program, following the $50 million repurchase program completed in the fourth quarter of 2012. Purchases under the new program will be funded with a combination of cash generated from operations and borrowings under the Company’s revolving credit facility, and the repurchase program has no specific term. The Company may repurchase shares in the open market or as otherwise determined by management, subject to market conditions, business opportunities and other factors. The Company’s management has been authorized to establish trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934, as part of the share repurchase program.

CONFERENCE CALL

Newpark has scheduled a conference call to discuss first quarter 2013 results, which will be broadcast live over the Internet, on Friday, April 26, 2013 at 10:00 a.m. Eastern Time / 9:00 a.m. Central Time. To participate in the call, dial 480-629-9835 and ask for the Newpark Resources conference call at least 10 minutes prior to the start time, or access it live over the Internet at www.newpark.com. For those who cannot listen to the live call, a replay will be available through May 10, 2013 and may be accessed by dialing (303) 590-3030 and using pass code 4610050#. Also, an archive of the webcast will be available shortly after the call at www.newpark.com for 90 days.

Newpark Resources, Inc. is a worldwide provider of drilling fluids, temporary worksites and access roads for oilfield and other commercial markets, and environmental waste treatment solutions. For more information, visit our website at www.newpark.com.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act that are based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including Newpark's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by Newpark, particularly its Annual Report on Form 10-K for the year ended December 31, 2012, as well as others, could cause results to differ materially from those stated. These risk factors include, but are not limited to, our ability to execute our business strategy and make successful business acquisitions and capital investments, our customers’ activity levels in exploration and drilling, operating hazards inherent in the oil and natural gas industry, particularly offshore, our international operations, the availability of raw materials and skilled personnel, our customer concentration and cyclical nature of our industry, our market competition, the cost and continued availability of borrowed funds, legal and regulatory matters, including environmental regulations, inherent limitations in insurance coverage, potential impairments of long-lived intangible assets, technological developments in our industry, and the impact of severe weather, particularly in the U.S. Gulf Coast. Newpark's filings with the Securities and Exchange Commission can be obtained at no charge at www.sec.gov, as well as through our website at www.newpark.com.

Newpark Resources, Inc.
Consolidated Statements of Operations

(Unaudited)	Three Months Ended
	March 31,			December 31,		March 31,
(In thousands, except per share data)	2013			2012		2012

Revenues	$	282,518		$	270,328	$	262,336

Cost of revenues		230,406			219,817		214,902

Selling, general and administrative expenses		24,182			24,217		21,313
Other operating income, net		(439	)		43		(14	)

Operating income		28,369			26,251		26,135

Foreign currency exchange (gain) loss		(368	)		333		(230	)
Interest expense, net		2,520			2,403		2,368

Income from operations before income taxes		26,217			23,515		23,997
Provision for income taxes		8,842			12,322		8,363

Net income	$	17,375		$	11,193	$	15,634


Income per common share -basic:	$	0.21		$	0.13	$	0.17
Income per common share -diluted:	$	0.18		$	0.12	$	0.16

Calculation of Diluted EPS:
Net income	$	17,375		$	11,193	$	15,634
Assumed conversion of Senior Notes		1,266			927		1,257
Adjusted net income	$	18,641		$	12,120	$	16,891

Weighted average number of common shares outstanding-basic		84,100			84,602		90,473
Add: Dilutive effect of stock options and restricted stock awards		1,572			903		1,198
Dilutive effect of Senior Notes		15,682			15,682		15,682

Diluted weighted average number of common shares outstanding		101,354			101,187		107,353

Income per common share - diluted	$	0.18		$	0.12	$	0.16

Newpark Resources, Inc.
Operating Segment Results


(Unaudited)	Three Months Ended
	March 31,			December 31,			March 31,
(In thousands)	2013			2012			2012

Revenues
Fluids systems and engineering	$	247,339		$	229,329		$	218,496
Mats and integrated services		20,584			26,612			30,533
Environmental services		14,595			14,387			13,307
Total revenues	$	282,518		$	270,328		$	262,336

Operating income (loss)
Fluids systems and engineering	$	22,622		$	17,714		$	13,995
Mats and integrated services		8,480			10,845			14,339
Environmental services		3,508			3,444			3,575
Corporate office		(6,241	)		(5,752	)		(5,774	)
Total operating income	$	28,369		$	26,251		$	26,135

Segment operating margin
Fluids systems and engineering		9.1	%		7.7	%		6.4	%
Mats and integrated services		41.2	%		40.8	%		47.0	%
Environmental services		24.0	%		23.9	%		26.9	%

Newpark Resources, Inc.
Consolidated Balance Sheets

(Unaudited)
	March 31,			December 31,
(In thousands, except share data)	2013			2012

ASSETS
Cash and cash equivalents	$	41,710		$	46,846
Receivables, net		343,850			323,439
Inventories		210,264			209,734
Deferred tax asset		11,440			11,596
Prepaid expenses and other current assets		14,491			12,441
Total current assets		621,755			604,056

Property, plant and equipment, net		264,399			253,990
Goodwill		88,666			87,388
Other intangible assets, net		36,310			41,018
Other assets		8,062			8,089
Total assets	$	1,019,192		$	994,541

LIABILITIES AND STOCKHOLDERS’ EQUITY
Short-term debt	$	8,990		$	2,599
Accounts payable		121,356			114,377
Accrued liabilities		45,136			42,620
Total current liabilities		175,482			159,596

Long-term debt, less current portion		242,807			256,832
Deferred tax liability		46,523			46,348
Other noncurrent liabilities		20,573			18,187
Total liabilities		485,385			480,963

Commitments and contingencies

Common stock, $0.01 par value, 200,000,000 shares authorized and 96,224,385 and 95,733,677 shares issued, respectively		962			957
Paid-in capital		490,297			484,962
Accumulated other comprehensive loss		(3,498	)		(734	)
Retained earnings		112,390			95,015
Treasury stock, at cost; 10,073,767 and 10,115,951 shares, respectively		(66,344	)		(66,622	)
Total stockholders’ equity		533,807			513,578
Total liabilities and stockholders' equity	$	1,019,192		$	994,541

Newpark Resources, Inc.
Consolidated Statements of Cash Flows


(Unaudited)	Three Months Ended March 31,
(In thousands)	2013			2012
Cash flows from operating activities:
Net income	$	17,375		$	15,634
Adjustments to reconcile net income to net cash provided by operations:
Depreciation and amortization		10,954			8,018
Stock-based compensation expense		1,973			1,383
Provision for deferred income taxes		534			81
Net provision for doubtful accounts		208			414
(Gain) loss on sale of assets		(99	)		244
Change in assets and liabilities:
Increase in receivables		(20,969	)		(24,439	)
Increase in inventories		(1,280	)		(12,144	)
Increase in other assets		(2,382	)		(1,755	)
Increase in accounts payable		4,179			9,008
Increase (decrease) in accrued liabilities and other		4,747			(2,852	)
Net cash provided by (used in) operating activities		15,240			(6,408	)

Cash flows from investing activities:
Capital expenditures		(16,127	)		(17,302	)
Proceeds from sale of property, plant and equipment		213			8
Net cash used in investing activities		(15,914	)		(17,294	)

Cash flows from financing activities:
Borrowings on lines of credit		71,102			85,951
Payments on lines of credit		(78,748	)		(50,632	)
Proceeds from employee stock plans		3,808			234
Purchase of treasury stock		-			(7,598	)
Other financing activities		(38	)		10
Net cash (used in) provided by financing activities		(3,876	)		27,965

Effect of exchange rate changes on cash		(586	)		859

Net (decrease) increase in cash and cash equivalents		(5,136	)		5,122
Cash and cash equivalents at beginning of year		46,846			25,247

Cash and cash equivalents at end of period	$	41,710		$	30,369

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