Revenue during the quarter surged 38.54 percent to $158.69 million from $114.54 million in the previous year period. Gross margin for the quarter expanded 1574 basis points over the previous year period to 18.34 percent. Operating margin for the quarter period stood at positive 2.36 percent as compared to a negative 16.43 percent for the previous year period.

Operating income for the quarter was $3.75 million, compared with an operating loss of $18.82 million in the previous year period.

Paul Howes, Newpark’s president and chief executive officer, stated, "I’m pleased to report that after two very challenging years, 2017 is off to a much improved start. Consolidated revenues improved by $22 million sequentially, resulting in our strongest revenue quarter in nearly two years. The incremental margins were also very strong, as operating income improved by $12 million sequentially and returned to positive territory. In Fluids, revenue gains were led by our North America region, where revenues improved by 43% and again outperformed the increase in overall rig count. Internationally, Fluids revenues remained relatively flat as a modest decline in the Eastern Hemisphere was largely offset by improvements in Latin America. With the stronger revenue contribution and a favorable sales mix, the Fluids segment returned to profitability in the first quarter, posting a 5% operating margin."

The company has spent $7.05 million cash to meet investing activities during the quarter as against cash outgo of $11.97 million in the last year period. It has incurred net capital expenditure of $7 million on net basis during the quarter, down 41.49 percent or $4.96 million from year ago period.

The company has spent $0.36 million cash to carry out financing activities during the quarter as against cash outgo of $11.58 million in the last year period.

Cash and cash equivalents stood at $69.88 million as on Mar. 31, 2017, down 15.34 percent or $12.66 million from $82.53 million on Mar. 31, 2016.