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Superior Drilling Products, Inc. Common Stock (AMEX:SDPI) reported Q1 sales of $2.42 million. Earnings fell to a loss of $956.60 thousand, resulting in a .
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First quarter revenue grew $0.9 million to $2.4 million over trailing fourth quarter as market steadily improves
U.S. market conditions strengthening and market share expanding driving revenue in North America up 74% over trailing quarter
Tool revenue grew 84% over the trailing quarter while Contract Services revenue was up 19%
Cost savings efforts and improved revenue resulted in positive cash generation from operations; ended quarter with $2.3 million of cash on hand
Restructured international team to build market opportunity while expanding relationships with major oil field service companies to deepen market reach
Superior Drilling Products, Inc. (NYSE American: SDPI) (“SDP” or the “Company”), a designer and manufacturer of drilling tool technologies, today reported financial results for the first quarter of 2021 ended March 31, 2021.