August 5, 2010 / 9:57 PM / in 7 years

UPDATE 1-Flint Energy Q2 results beat estimates

* Q2 EPS C$0.18 vs est C$0.13

* Q2 rev up 8.3 pct to C$459.2

Aug 5 (Reuters) - Canadian oilfield service firm Flint Energy Services Ltd FES.TO posted better-than-expected quarterly profit, helped by improved margins in its production services segment and higher volumes overall.

For the second quarter, the company earned C$8.2 million, or 18 Canadian cents a share, compared with of C$3.8 million, or 8 Canadian cents a share, a year ago.

Flint, which provides production, maintenance, transportation and infrastructure services to the energy industry, posted an 8.3 percent rise in revenue to C$459.2 million.

Analysts on average had expected earnings of 13 Canadian cents a share, on revenue of C$422.6 million, according to Thomson Reuters I/B/E/S.

Production services revenue increased 4.3 percent to C$195.2 million, and maintenance services revenue increased 80 percent to 119.3 million, the company said.

“Management is optimistic that the second half of 2010 will see improving revenues in all segments with the exception of facility infrastructure,” the company said in a statement.

Shares of Flint closed at C$12.88 Thursday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Aradhana Aravindan)

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