CARBO Ceramics Inc. Announces Second Quarter 2009 Earnings

Conference Call Scheduled for Today, 10:00 a.m. Central Time

HOUSTON, July 30 /PRNewswire-FirstCall/ -- CARBO Ceramics Inc. (NYSE: CRR)
today reported net income of $9.4 million, or $0.41 per diluted share, on
revenues of $69.3 million for the quarter ended June 30, 2009. The Company
previously reported that it had sold its fracture and reservoir diagnostics
business. Because of the transaction, which closed on October 10, 2008, the
2008 operating results of this business have been accounted for as
discontinued operations. Continuing operations include the Company's ceramic
proppant, software, consulting services and geotechnical monitoring
businesses.

President and CEO Gary Kolstad commented, "The economic challenges faced by
the oil and gas industry over the last several months have resulted in
significant reductions in drilling and completion activities. Given this
trend, we are pleased with our second quarter operating results. While our
sales volumes and associated revenues were lower than those experienced last
quarter and during the same period last year, the percentage declines in
either case are better than the declines experienced in the worldwide and
North American rig counts. In the second quarter, we continued to see strong
demand for our newest product CARBOHYDROPROP((R)) in the large resource plays,
and more operator acceptance of the benefits of Economic Conductivity(TM). We
believe these events are particularly significant given the operating
environment we faced during the quarter, and are a testament to the value that
E&P companies can derive from CARBO's products."

Second Quarter Results

Revenues for the second quarter of 2009 decreased 22 percent compared to the
second quarter of 2008 and decreased 24 percent compared to the first quarter
of 2009. Worldwide proppant sales volume totaled 216 million pounds for the
second quarter of 2009, representing a year-over-year decrease of 23 percent
and a sequential decrease of 14 percent. Quarterly proppant sales volume in
the U.S. decreased 17 percent year-over-year, but actually grew by 1 percent
sequentially, in spite of drilling rig count decreases of approximately 50
percent and 30 percent, respectively.

Operating profit for the second quarter of 2009 decreased $3.2 million
compared to the second quarter of 2008, while operating margins increased
slightly, as a lower sales volume was partially offset by reduced freight and
other operational costs and a favorable product mix. Selling, general and
administrative expenses were virtually flat year-over-year and lower
sequentially, as savings were realized from cost reduction initiatives.

Income from continuing operations for the second quarter of 2009 decreased
$2.4 million compared to the second quarter of 2008.

As previously disclosed, on August 28, 2008, the Company's Board of Directors
authorized the repurchase of up to two million shares of the Company's common
stock. During the second quarter of 2009, the Company repurchased under this
plan a total of 236,885 shares at an aggregate cost of $8.2 million. As of
June 30, 2009, the Company had repurchased and retired approximately 1.7
million shares under this plan.

Technology and Business Highlights

Highlights for the second quarter of 2009 included:

-- Over 2 million pounds of CARBOECONOPROP(R) were pumped for Brigham
Exploration Company (Brigham) in conjunction with the completion of
the
Strobeck 27-34 #1H well in North Dakota's Williston Basin. In their
announcement, Brigham stated that the initial production rate from
this
Three Forks formation well was 2,021 barrels of oil equivalent per
day,
and further reported that this appears to be the second highest
initial
rate for a Three Forks completion. This result once again shows the
validity of Economic Conductivity(TM) and how an incremental
investment
in high quality proppant can improve production and help optimize an
operator's return on investment.
-- E&P operators continued to select CARBO's proppant when
stimulating their unconventional gas reservoirs, as U.S. proppant
sales
volume for the quarter actually increased sequentially versus an
approximate 30 percent decrease in the U.S. drilling rig count. In the
Haynesville, CARBO provided a variety of proppant to over a dozen
different operators, with increasing volumes, while also supplying
products in the Marcellus, Bakken, Montney, Eagleford and Woodford
resource plays.

-- CARBO's geotechnical monitoring company, Applied Geomechanics,
Inc., is providing the FAA with concrete strain gauges at the National
Airport Pavement Test Facility in Atlantic City, NJ. These sensors are
used to evaluate performance of new concrete mix designs under
simulated, full-scale accelerated aircraft loading.

Outlook

CEO Gary Kolstad commented on the outlook for the Company stating, "Although
the decline rate of the North American rig count has recently slowed, it is
still unclear as to when the market will bottom. At some point, the
self-correcting nature of the oil and gas industry should react positively to
the reduced natural gas drilling activity; however it is possible that a
notable recovery is not experienced until sometime in 2010. Nevertheless, we
will continue to focus our efforts on expanding our client base in the large
resource plays where our business keeps building as a result of the growing
acceptance for our products. With respect to our financial situation, our
balance sheet and overall financial condition remain strong. In fact, we
recently announced an increase to our quarterly dividend demonstrating
continued confidence in CARBO's outlook and financial strength."

As previously announced, a conference call to discuss the Company's second
quarter results has been scheduled for today at 10:00 a.m. central time (11:00
a.m. eastern). To participate in the call, please dial 800-860-2442 and refer
to the "CARBO Ceramics Conference Call." International callers should dial
412-858-4600. The call can also be accessed live or on a delayed basis via the
Company's Web site, www.carboceramics.com.

CARBO Ceramics Inc., based in Houston, Texas, is the world's largest supplier
of ceramic proppant, the provider of the world's most popular fracture
simulation software, and a leading provider of fracture design and consulting
services. The Company also provides a broad range of technologies for
geotechnical monitoring.

The statements in this news release that are not historical statements,
including statements regarding our future financial and operating performance,
are forward-looking statements within the meaning of the federal securities
laws, including the Private Securities Litigation Reform Act of 1995. All
forward-looking statements are based on management's current expectations and
estimates, which involve risks and uncertainties that could cause actual
results to differ materially from those expressed in forward-looking
statements. Among these factors are changes in overall economic conditions,
changes in demand and prices charged for our products, changes in the demand
for, or price of, oil and natural gas, risks of increased competition,
technological, manufacturing and product development risks, loss of key
customers, changes in government regulations, foreign and domestic political
and legislative risks, the risks of war and international and domestic
terrorism, risks associated with foreign operations and foreign currency
exchange rates and controls, weather-related risks and other risks and
uncertainties described in our publicly available filings with the Securities
and Exchange Commission. We assume no obligation to update forward-looking
statements, except as required by law.

Three Months Ended Six Months Ended
June 30 June 30
------- -------
2009 2008 2009 2008
------------ ------------ ------------ ------------
(In thousands except per (In thousands except per
share data) share data)
Revenues $69,322 $89,285 $159,964 $179,660
Cost of sales 46,130 62,865 100,788 126,196
------ ------ ------- -------
Gross profit 23,192 26,420 59,176 53,464
Selling,
general &
administrative
expenses 8,831 8,737 20,263 17,319
Start-up costs - - - 231
Loss on disposal
or impairment
of assets 24 178 91 110
-- --- -- ---
Operating
profit 14,337 17,505 38,822 35,804
Interest
income, net 116 22 320 56
Foreign
currency
exchange
(loss)
gain, net (205) (66) (246) 1,427
Other
income, net 3 170 178 187
--- --- --- ---
Income
before
income
taxes 14,251 17,631 39,074 37,474
Income taxes 4,864 5,882 13,259 12,870
------------ ----- ----- ------ ------
Income from
continuing
operations 9,387 11,749 25,815 24,604
----------- ----- ------ ------ ------
Discontinued
operations (1):
Operating
results,
net of
income
taxes - 1,781 - 3,157
--- ----- --- -----
Net income $9,387 $13,530 $25,815 $27,761
====== ======= ======= =======

(1) Discontinued operations include the Company's fracture mapping and
reservoir monitoring assets, which were sold on October 10, 2008.

Basic earnings
per share:
Continuing
operations $0.41 $0.48 $1.11 $1.01
Discontinued
operations - 0.07 - 0.13
--- ---- --- ----
Basic earnings
per share $0.41 $0.55 $1.11 $1.14
===== ===== ===== =====

Diluted earnings
per share:
Continuing
operations $0.41 $0.48 $1.11 $1.00
Discontinued
operations - 0.07 - 0.13
--- ---- --- ----
Diluted earnings
per share $0.41 $0.55 $1.11 $1.13
===== ===== ===== =====

Average shares
outstanding:
Basic 23,086 24,466 23,272 24,459
====== ====== ====== ======
Diluted 23,137 24,577 23,324 24,557
====== ====== ====== ======

Depreciation and
amortization:
Continuing
operations $6,133 $6,188 $12,324 $12,253
Discontinued
operations - 1,502 - 2,956
--- ------ --- -------
$6,133 $7,690 $12,324 $15,209
====== ====== ======= =======

Selected Balance Sheet Information

June 30, 2009 Dec. 31, 2008
------------- -------------
(In thousands)
Assets
------
Cash and cash equivalents $92,475 $154,817
Other current assets 134,182 140,895
Property, plant and equipment,
net 250,506 244,902
Intangible and other assets, net 3,391 3,806
Total assets 485,413 549,279

Liabilities and Shareholders' Equity
------------------------------------
Accrued income taxes $ - $47,929
Other current liabilities 22,804 35,919
Deferred income taxes 24,747 22,897
Shareholders' equity 437,862 442,534
------- -------
Total liabilities and
shareholders' equity $485,413 $549,279
======== ========

SOURCE CARBO Ceramics Inc.

Ernesto Bautista III, CFO of CARBO Ceramics Inc., +1-281-921-6400