Newpark Resources (NR) 8-K NEWPARK RESOURCES REPORTS 2008 SECOND QUARTER RESULTS Company reports income from continuing operations of $0.10 per diluted share

Exhibit 99.1

NEWS RELEASE

Contacts:	James E. Braun, CFO
	Newpark Resources, Inc.
	281-362-6800
	Ken Dennard, Managing Partner
	Dennard Rupp Gray & Easterly, LLC
	ksdennard@drg-e.com
	713-529-6600

NEWPARK RESOURCES REPORTS 2008 SECOND QUARTER RESULTS
Company reports income from continuing operations of $0.10 per diluted share

THE WOODLANDS, TX — July 31, 2008 — Newpark Resources, Inc. (NYSE: NR) today announced results for its second quarter ended June 30, 2008. Total revenues were $194.0 million for the second quarter of 2008 compared to $150.0 million for the second quarter of 2007. The Company reported income from continuing operations of $8.7 million, or $0.10 per diluted share, compared to $6.1 million, or $0.07 per diluted share, in the second quarter of 2007. Net income was $10.0 million, or $0.11 per diluted share, compared to $5.3 million, or $0.06 per diluted share, in the second quarter of 2007.

Paul Howes, President and Chief Executive Officer of Newpark, stated, “During the second quarter, we continued our focus on growing our core drilling fluids business where revenues were up 29% in a year-over-year comparison and 8% sequentially from the first quarter of 2008. While this segment’s operating margins were lower on a sequential basis, this decline is partially attributable to the seasonal slow-down in the Canadian market, along with start-up costs and short-term inefficiencies associated with new and future revenue streams.

“Meanwhile, despite continued challenges in the Gulf Coast region, our Mats and Integrated Services business rebounded from the first quarter of 2008, increasing its operating margin to almost 10%. We are continuing to reduce the operating costs in this business, and under the leadership of our new division President Bill Moss, we expect to see more benefits ahead.”

SEGMENT RESULTS

The Fluids Systems and Engineering segment generated revenues of $169.1 million and a 10.7% operating margin in the second quarter of 2008 compared to revenues of $131.2 million and a 12.4% operating margin during the second quarter of 2007. Second quarter 2008 revenues were driven by strong growth in both the North American and Mediterranean regions. North American revenues increased 21% over the second quarter of 2007 on solid revenue gains from the U.S. market, while our Mediterranean region revenues increased 53% compared to the second quarter of 2007. Brazil also contributed to revenue growth, generating a $3.5 million increase in the second quarter of 2008. Operating margins in this segment were negatively impacted by several factors, including new customer activity which is initially at lower margins due to start-up inefficiencies, unfavorable product mix and inflationary cost increases related to personnel and materials. In addition, the Company incurred start-up costs associated with future revenue streams.

The Mats and Integrated Services segment generated revenues of $24.9 million and a 9.7% operating margin in the second quarter of 2008 compared to revenues of $18.8 million and a 12.1% operating margin in the second quarter of 2007. The growth in revenues is attributable to an $8.3 million increase in composite mat sales, partially offset by lower mat rental and related services revenue. The revenue decline in mat rental and related services, as well as the segment’s year-to-year operating margin decline, is primarily attributable to continued weakness in the South Louisiana land rig count, resulting in reduced demand along with pricing pressure.

SHARE REPURCHASE PROGRAM UPDATE

As previously announced, Newpark’s Board of Directors approved a stock repurchase program in February 2008, authorizing the Company to purchase up to $25.0 million of outstanding shares of Newpark common stock. As of June 30, 2008, the Company has repurchased 1,886,000 outstanding shares for an aggregate price of $10.0 million, an average per share price of $5.32.

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CONFERENCE CALL

In conjunction with this release, Newpark has scheduled a conference call, which will be broadcast live over the Internet, on Friday, August 1, 2008 at 10:00 a.m. Eastern Time / 9:00 a.m. Central Time. To participate in the call, dial (303) 262-2130 and ask for the Newpark Resources conference call at least 10 minutes prior to the start time, or access it live over the Internet at www.newpark.com. For those who cannot listen to the live call, a replay will be available through August 8, 2008 and may be accessed by dialing (303) 590-3000 and using pass code 11115505#. Also, an archive of the webcast will be available shortly after the call at www.newpark.com for 90 days.

Newpark Resources, Inc. is a worldwide provider of drilling fluids, temporary worksites and access roads for oilfield and other commercial markets, and environmental waste treatment solutions. For more information, visit our website at www.newpark.com.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act that are based on management’s current expectations, estimates and projections. All statements that address expectations or projections about the future, including Newpark’s strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like “expects,” “anticipates,” “plans,” “intends,” “projects,” “indicates,” and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by Newpark, particularly its Annual Report on Form 10-K for the year ended December 31, 2007, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to, Newpark’s successful completion of the proposed sale of the environmental business, the investigation of the certain accounting matters by the Securities and Exchange Commission; changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which Newpark does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales of Newpark products. Newpark’s filings with the Securities and Exchange Commission can be obtained at no charge at www.sec.gov, as well as through our website at www.newpark.com.

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Newpark Resources, Inc.
Consolidated Statements of Operations

	Three Months						Six Months
(Unaudited)	Ended June 30,						Ended June 30,
(In thousands, except per share data)	2008			2007			2008		2007
Revenues	$	194,032		$	149,982		$	372,499	$	299,246
Cost of revenues		173,511			131,386			330,820		259,420
		20,521			18,596			41,679		39,826
General and administrative expenses		4,996			5,111			9,777		13,266
Operating income		15,525			13,485			31,902		26,560
Foreign currency exchange (gain) loss		(199	)		(331	)		97		(222	)
Interest expense, net		2,649			3,812			5,876		8,232
Income from continuing operations before income taxes		13,075			10,004			25,929		18,550
Provision for income taxes		4,410			3,859			8,587		6,636
Income from continuing operations		8,665			6,145			17,342		11,914
Income (loss) from discontinued operations, net of tax		1,337			(846	)		4,011		619
Net income	$	10,002		$	5,299		$	21,353	$	12,533
Basic weighted average common shares outstanding		88,762			89,979			89,454		89,907
Diluted weighted average common shares outstanding		89,073			90,671			89,671		90,359
Income per common share (basic and diluted):
Income from continuing operations	$	0.10		$	0.07		$	0.19	$	0.13
Income (loss) from discontinued operations		0.01			(0.01	)		0.05		0.01
Net income per common share	$	0.11		$	0.06		$	0.24	$	0.14

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Newpark Resources, Inc.
Operating Segment Results

(Unaudited)	Three Months Ended
(In thousands)	June 30, 2008			March 31, 2008			June 30, 2007
Segment revenues
Fluids systems and engineering	$	169,128		$	157,216		$	131,163
Mats and integrated services		24,904			21,251			18,819
Total segment revenues	$	194,032		$	178,467		$	149,982
Segment operating income
Fluids systems and engineering	$	18,104		$	21,107		$	16,323
Mats and integrated services		2,417			51			2,273
Total segment operating income	$	20,521		$	21,158		$	18,596
Segment operating margin
Fluids systems and engineering		10.7	%		13.4	%		12.4	%
Mats and integrated services		9.7	%		0.2	%		12.1	%
Total segment operating margin		10.6	%		11.9	%		12.4	%

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Newpark Resources, Inc.
Consolidated Balance Sheets

	June 30,			December 31,
(In thousands, except share data)	2008			2007
	(Unaudited)
ASSETS
Cash and cash equivalents	$	10,243		$	5,741
Receivables, net		174,974			141,949
Inventories		122,574			120,202
Deferred tax asset		27,383			28,439
Prepaid expenses and other current assets		12,846			12,131
Assets of discontinued operations		84,834			86,628
Total current assets		432,854			395,090
Property, plant and equipment, net		159,534			159,094
Goodwill		63,355			62,616
Deferred tax asset, net		399			408
Other intangible assets, net		16,648			18,474
Other assets		6,250			6,097
Total assets	$	679,040		$	641,779
LIABILITIES AND STOCKHOLDERS’ EQUITY
Foreign bank lines of credit	$	10,028		$	7,297
Current maturities of long-term debt		11,400			11,565
Accounts payable		67,331			62,505
Accrued liabilities		26,454			20,367
Liabilities of discontinued operations		11,687			10,456
Total current liabilities		126,900			112,190
Long-term debt, less current portion		157,787			158,616
Deferred tax liability		13,913			5,923
Other noncurrent liabilities		2,291			4,386
Total liabilities		300,891			281,115
Common Stock, $0.01 par value, 100,000,000 shares authorized 90,953,756 and 90,215,175 shares issued, respectively		909			902
Paid-in capital		453,481			450,319
Accumulated other comprehensive income		16,990			13,988
Retained deficit		(83,192	)		(104,545	)
Less treasury stock, at cost; 1,886,000 shares		(10,039	)		—
Total stockholders’ equity		378,149			360,664
Total Liabilities and Stockholders’ Equity	$	679,040		$	641,779

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Newpark Resources, Inc.
Consolidated Statements of Cash Flows

(Unaudited)	Six Months Ended June 30,
(In thousands)	2008			2007
Cash flows from operating activities:
Net income	$	21,353		$	12,533
Adjustments to reconcile net income to net cash provided by operations:
Net income from discontinued operations		(4,011	)		(619	)
Depreciation and amortization		12,272			9,952
Stock-based compensation expense		2,314			1,197
Provision for deferred income taxes		9,119			5,883
Provision for doubtful accounts		1,336			549
Loss on sale of assets		445			795
Change in assets and liabilities:
Increase in receivables		(32,170	)		(5,569	)
Increase in inventories		(832	)		(2,488	)
Increase in other assets		(961	)		(1,083	)
Increase in accounts payable		3,431			10,068
Increase (decrease) in accrued liabilities and other		2,939			(7,400	)
Net operating activities of continuing operations		15,235			23,818
Net operating activities of discontinued operations		8,099			13,232
Net cash provided by operating activities		23,334			37,050
Cash flows from investing activities:
Capital expenditures		(11,465	)		(9,302	)
Proceeds from sale of property, plant and equipment		78			633
Net investing activities of continuing operations		(11,387	)		(8,669	)
Net investing activities of discontinued operations		(115	)		(2,230	)
Net cash used in investing activities		(11,502	)		(10,899	)
Cash flows from financing activities:
Net borrowings (payments) on lines of credit		2,098			(30,555	)
Principal payments on notes payable and long-term debt		(1,014	)		(6,080	)
Proceeds from exercise of stock options and ESPP		1,241			1,702
Purchase of treasury stock		(10,039	)		—
Net financing activities of continuing operations		(7,714	)		(34,933	)
Net financing activities of discontinued operations		(63	)		(31	)
Net cash used in financing activities		(7,777	)		(34,964	)
Effect of exchange rate changes		447			222
Net increase (decrease) in cash and cash equivalents		4,502			(8,591	)
Cash and cash equivalents at beginning of year		5,741			12,736
Cash and cash equivalents at end of year	$	10,243		$	4,145

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