08:32 AM EDT, 08/09/2024 (MT Newswires) -- McCoy Global ( MCCRF ) , which supports the global energy industry, on Friday said net earnings more than doubled as revenue rose 23%.

The company reported a 119% increase in profit to $3.1 million, or $0.11 per diluted share, from $1.4 million, or $0.05, last year.

Total revenue climbed to $19.9 million compare with last year's $16.3 million. McCoy attributed the increase to the strong adoption of its flush-mount spider and delivery of wellbore equipment.

McCoy declared a quarterly cash dividend of $0.02 per share payable on October 15.