Revenues
fell
to
$653
million
in
the
last
quarter
from
$725
million
a
year
earlier,
while
annual
revenues
rose
slightly
to
$2.7
billion
from
2011’s
$2.6
billion.
A
$17.2
million
after-tax
gain
on
the
sale
of
its
flowback
business
Eastern
Reservoir
Services
to
Tetra
Technologies
lifted
the
full-year
result,
but
the
gain
was
partially
offset
by
$8.4
million
in
after-tax
rig
retirement
charges.
The
Houston-based
contractor
insisted
it
was
happy
with
the
results
and
that
revenues
had
beaten
expectations.
Chief
executive
Andy
Hendricks
said
that
a
higher-than-expected
205
rigs
were
active
in
the
last
three
months
of
the
year,
compared…
