09:13 AM EDT, 04/30/2024 (MT Newswires) -- Foraco International SA ( FRACF ) , a global provider of mineral and water drilling services, on Tuesday reported first-quarter earnings of US$8.5 million ($11.7 million), or US$8.78 per diluted share, up from US$8 million, or US$6.56 per diluted share, a year earlier.

Revenue for the quarter ended March 31 was US$77.1 million, down from US$88.4 million a year earlier. EBITDA declined 7.9% to US$17.6 million from US$19.1 million a year earlier.

Cash and cash equivalents totaled US$18.3 million at the end of March, down from US$34.3 million at the end of last year..