Consolidated revenue in the fourth quarter of fiscal 2006 was $1,216.0 million, up 36% compared to $892.3 million in prior year's September quarter and up 9% compared to $1,116.9 million reported in the previous quarter. Consolidated operating income for the quarter was $340.0 million, an 86% increase compared to $182.5 million for the same quarter last year and an 11% increase compared to $306.9 million reported in the previous quarter.
During the quarter, the Company's capital expenditures were $136.7 million. Other uses of cash during the quarter included dividend payments of $15.8 million and the purchase of approximately 10.2 million shares of the Company's common stock for $364.8 million. Fiscal year to date, the Company has repurchased approximately 31.7 million shares for $1,133.3 million and has remaining authorization to purchase up to an additional $469.3 million in stock.
Cash and cash equivalents decreased $290.4 million from the previous quarter to $92.4 million primarily as a result of share repurchases.
Commenting on the results, Chairman and CEO Bill Stewart said, "The rebound in Canadian activity and improvements in Africa, Latin America and the Middle East have led to another record quarter for BJ. During the quarter, we continued to repurchase treasury shares and completed the purchase of the operating assets of Dyna-Coil, a capillary string installation and production chemicals company.
"Our outlook for fiscal year 2007 is positive with consolidated revenue growth expectations in excess of 20%. Revenue generated from our North America Pressure Pumping operations is expected to grow in the range of 20%. We expect revenue growth for our International Pressure Pumping operations outside North America and our Oilfield Services Group in the range of 20% to 25% for the fiscal year. Based on our revenue growth assumptions, we expect earnings per share for fiscal year 2007 to be $3.15 - $3.25, with earnings per share in the first fiscal quarter to be $0.75 - $0.77."
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