UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
(Mark One)
|X| ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1996
OR
|_| TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
For the transition period from ___________ to ______________
A. Full title of the plan and the address of the plan, if different from
that of the issuer named below:
CORE LABORATORIES, INC. PROFIT SHARING AND RETIREMENT PLAN
B. Name and issuer of the securities held pursuant to the plan and the
address of its principal executive office:
Core Laboratories, Inc.
5295 Hollister Road
Houston, Texas 77040
<PAGE>
SIGNATURE
The Plan, Pursuant to the requirements of the Securities Exchange Act of
1934, the plan administrator has duly caused this annual report to be signed on
its behalf by the undersigned thereunto duly authorized.
Dated: June 27, 1997
CORE LABORATORIES, INC.
PROFIT SHARING AND RETIREMENT PLAN
By:
Richard L. Bergmark
<PAGE>
CORE LABORATORIES, INC.
PROFIT SHARING AND RETIREMENT PLAN
INDEX TO FINANCIAL STATEMENTS, EXHIBITS
AND SUPPLEMENTAL SCHEDULES
DECEMBER 31, 1996
<TABLE>
<CAPTION>
PAGE(S)
-------
<S> <C>
Report of Independent Public Accountants..................................................................... 1
Financial Statements-
Statements of Net Assets Available for Benefits as of December 31, 1996 and 1995.......................... 2
Statement of Changes in Net Assets Available for Benefits for the Year Ended
December 31, 1996....................................................................................... 3
Notes to Financial Statements................................................................................ 4-7
Exhibits-
Exhibit 1 - Statements of Net Assets Available for Benefits, With Fund Information as of
December 31, 1996 and 1995.............................................................................. 8-9
Exhibit 2 - Statement of Changes in Net Assets Available for Benefits, With Fund
Information for the Year Ended December 31, 1996........................................................ 10
Supplemental Schedules-
Schedule I - Schedule of Assets Held for Investment Purposes as of December 31, 1996...................... 11
Schedule II - Schedule of Reportable Transactions - Individual Transactions for the
Year Ended December 31, 1996............................................................................ 12
Schedule III - Schedule of Reportable Transactions - Series of Transactions for the
Year Ended December 31, 1996............................................................................ 13
</TABLE>
<PAGE>
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Plan Administrator of the
Core Laboratories, Inc. Profit Sharing
and Retirement Plan:
We have audited the accompanying statements of net assets available for benefits
of Core Laboratories, Inc. Profit Sharing and Retirement Plan (the "Plan") as of
December 31, 1996 and 1995, and the related statement of changes in net assets
available for benefits for the year ended December 31, 1996. These financial
statements and the schedules referred to below are the responsibility of the
Plan administrator. Our responsibility is to express an opinion on these
financial statements and schedules based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by the
Plan administrator, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our
opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan as of
December 31, 1996 and 1995, and the changes in its net assets available for
benefits for the year ended December 31, 1996, in conformity with generally
accepted accounting principles.
Our audits were made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of assets held
for investment purposes (Schedule I) and reportable transactions (Schedules II
and III) are presented for purposes of additional analysis and are not a
required part of the basic financial statements but are supplementary
information required by the Department of Labor's Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security Act of
1974. The supplemental schedules have been subjected to the auditing procedures
applied in the audits of the basic financial statements and, in our opinion, are
fairly stated in all material respects in relation to the basic financial
statements taken as a whole.
ARTHUR ANDERSEN LLP
Houston, Texas
June 27, 1997
-1-
<PAGE>
CORE LABORATORIES, INC.
PROFIT SHARING AND RETIREMENT PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 1996 AND 1995
1996 1995
------------ ------------
INVESTMENTS, at fair value-
Fidelity Managed Income Portfolio ............. $ 3,307,949 $ 4,942,341
Fidelity Asset Manager ........................ 2,355,696 1,269,113
Longleaf Partners Fund ........................ 5,076,114 3,157,316
Ivy International Fund ........................ 1,384,322 1,077,376
Core Laboratories N.V. Common Stock Fund ...... 1,477,769 --
Loans receivable from participants ............ 515,745 515,001
NationsBank Prime Portfolio Trust A Shares .... 134,360 93,532
------------ ------------
Total investments ....................... 14,251,955 11,054,679
Contributions receivable-
Participants ................................ 53,503 1,511
Company ..................................... 404,909 319,692
Accrued interest and dividends receivable ..... 789,620 202
ACCRUED PAYABLE .................................. (118,142) (98,905)
------------ ------------
NET ASSETS AVAILABLE FOR BENEFITS ................ $ 15,381,845 $ 11,277,179
============ ============
The accompanying notes to financial statements are an integral part
of these financial statements.
-2-
<PAGE>
CORE LABORATORIES, INC.
PROFIT SHARING AND RETIREMENT PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 1996
ADDITIONS TO NET ASSETS ATTRIBUTABLE TO:
Investment income-
Interest and dividend income ........................... $ 1,233,352
Realized gain on sale of investments ................... 178,622
Net unrealized appreciation of investments ............. 640,927
------------
Total investment income ............................ 2,052,901
Contributions-
Participant ............................................ 1,391,484
Company ................................................ 1,133,408
Rollover ............................................... 898,121
------------
3,423,013
DEDUCTIONS FROM NET ASSETS ATTRIBUTABLE TO:
Expenses ................................................. (45,989)
Distributions to participants ............................ (1,325,259)
------------
Increase in net assets available for
benefits for the year ............................ 4,104,666
NET ASSETS AVAILABLE FOR BENEFITS:
Beginning of year ........................................ 11,277,179
------------
End of year .............................................. $ 15,381,845
============
The accompanying notes to financial statements are an integral part
of these financial statements.
-3-
<PAGE>
CORE LABORATORIES, INC.
PROFIT SHARING AND RETIREMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1996
1. SUMMARY OF SIGNIFICANT PLAN PROVISIONS:
The Core Laboratories, Inc. Profit Sharing and Retirement Plan (the "Plan") was
established by Core Laboratories, Inc. (the "Company"), effective October 1,
1994. The Plan allows participants to contribute up to 12 percent of their
compensation, as defined to the Plan on a pretax basis. The Company contributes
to the account of each participant in the Plan up to 4 percent of each
participant's compensation, as defined. The Company may, at its discretion, also
contribute for a Plan year an additional amount with respect to each participant
who has completed one year of service and is employed by the Company on the last
day of such Plan year. The Company's board of directors shall determine whether
such contribution shall be made for a Plan year, the matching percentage and the
percentage of a participant's compensation upon which the match shall be based.
Such Company contributions of $383,393 and $329,809 were approved by the board
of directors in 1996 and 1995, respectively. The following description of key
features of the Plan provide only general information. Participants should refer
to the Plan document for a more complete explanation of the Plan's provisions as
the Plan document is controlling at all times.
PLAN ADMINISTRATOR AND TRUSTEE
The Company is the Plan administrator of the Plan as defined under the Employee
Retirement Income Security Act of 1974. The Company has contracted with Stone &
Associates to maintain the Plan's participant account balances. NationsBank of
Texas, N.A. (the "Trustee"), is the trustee of all investments held by the Plan.
Effective January 1998, Bankers Trust Company will become the successor trustee.
ELIGIBILITY
Substantially all of the Company's employees are eligible to participate in the
Plan. Participation may commence upon the later of such eligible employee's
first day of the calendar quarter coincident with or following the date of hire
or the date on which such employees attain the age of 21.
VESTING
Participants are fully vested in their contributions and related earnings/losses
and vest in Company contributions and related earnings/losses at the rate of 20
percent for each year of service. Upon death, physical or mental disability, or
normal retirement, participants become fully vested in Company contributions and
related earnings/losses.
INVESTMENT PROGRAMS
Participants have the option of investing their contributions, the Company's
matching contributions and any additional Company contributions in any of the
following funds (description provided by investment managers).
-4-
<PAGE>
FIDELITY MANAGED INCOME PORTFOLIO--Investments are made in high-quality
short- and long-term investment contracts with variable and fixed rates
that have maturities of between one and seven years, with the objective
of preservation of capital and a low risk level. The average aggregate
yield of investments in this portfolio for the year ended September 30,
1996, was 5.98 percent. Investments are stated at contract value which
approximates fair value.
FIDELITY ASSET MANAGER--Investments are made in domestic and foreign
stocks, bonds and short-term instruments with the objective of high
return with reduced risk.
LONGLEAF PARTNERS FUND--Investments are made in securities of companies
having a market capitalization of $1 billion or less with the objective
of long-term capital growth.
IVY INTERNATIONAL FUND--Investments are made in foreign and domestic
equity securities with the objective of long-term capital growth.
CORE LABORATORIES N.V. COMMON STOCK FUND--As of January 1, 1996,
participants had the option of investing in Core Laboratories N.V.
common stock. Investments are in the common stock of the Company
purchased at prevailing market prices.
Contributions may be invested in one fund or divided among two or more funds.
Participants may transfer some or all of the balances out of any fund into one
or any combination of the other funds once a quarter. (See Exhibits 1 and 2 for
statements of net assets available for benefits, with fund information as of
December 31, 1996 and 1995, and statement of changes in net assets available for
benefits, with fund information for the year ended December 31, 1996.)
ASSET VALUATION
The assets of the Plan are recorded at cost in the participants' accounts and
converted to market value for financial statement presentation. Pursuant to
Department of Labor regulations, the realized gain or loss on the sale of the
Plan assets and unrealized appreciation or depreciation of the Plan assets are
based on the historical cost of those assets or the cost at the time of
purchase, if acquired during the current year.
ADMINISTRATIVE EXPENSES
The Plan is responsible for its administrative expenses.
PRIORITIES UPON PLAN TERMINATION
The Company intends for the Plan to be permanent; however, in the event of
discontinuance of contributions or termination of the Plan, the total balances
of all participants shall become fully vested.
LOANS
The Plan permits participants to borrow the lesser of $50,000 or 50 percent of
their vested account balances in the Plan. These loans bear interest at prime
plus 1 percent and are repaid through payroll deductions over a period not to
exceed 5 years.
WITHDRAWALS AND FORFEITURES
A participant may elect to receive benefit payments through any one of the
several methods provided by the Plan upon termination, retirement or financial
hardship. Participants can withdraw their after-tax contributions in cash
without being suspended from making additional contributions to the Plan.
-5-
<PAGE>
Upon termination of employment with the Company, any unvested Company
contributions and related earnings/losses are forfeited. Participants returning
to the Company within 60 months of their initial termination are entitled to
have their previous account balance reinstated by the Company. During 1996 and
1995, $20,381 and $-, respectively, of forfeited balances were utilized to
reduce the Company's contributions in the respective years.
Hardship withdrawals are allowed in the event of immediate and heavy financial
need, subject to Internal Revenue Code (the "Code") provisions. The participants
can withdraw up to 100 percent of their pre-tax contributions and are suspended
for at least 12 months from making additional contributions to the Plan.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
BASIS OF ACCOUNTING
The accounts of the Plan are maintained by the Trustee on the cash basis of
accounting. For financial reporting purposes, however, the financial statements
have been prepared on the accrual basis of accounting.
INVESTMENT VALUATION
Plan investments are stated at fair value, as determined by the Trustee,
primarily by reference to published market data.
USE OF ESTIMATES
The preparation of financial statements in conformity with generally accepted
accounting principles requires the use of estimates and assumption that affect
the accompanying financial statements and disclosures. Actual results could
differ from those estimates.
3. TAX STATUS:
The Plan obtained its latest determination letter on November 12, 1996, in which
the Internal Revenue Service stated that the Plan, as then designed, was in
compliance with the applicable requirements of the Code. The Plan has been
amended since receiving the determination letter. However, the Company believes
that the Plan is currently designed and being operated in compliance with the
applicable requirements of the Code. Therefore, they believe that the Plan was
qualified and tax-exempt as of the financial statement date.
4. RECONCILIATION OF FORM 5500:
Benefits payable to participants, accumulated forfeitures and accrued loan
principal reductions are included in net assets available for Plan benefits and
are not reflected as a liability in the financial statements. As of December 31,
1996 and 1995, the benefits payable to participants total $265,827 and $233,142,
respectively. The following is a reconciliation of net assets available for
benefits per the financial statements to the Form 5500 as of December 31, 1996
and 1995:
1996 1995
------------ ------------
Net assets available for benefits per the
financial statements .......................... $ 15,381,845 $ 11,277,179
Less-
Current amounts payable to participants
at end of year .......................... (265,827) (233,142)
Accumulated forfeitures at end of year .... -- (15,073)
Loan principal reduction payable at
end of year ............................. -- (23,141)
------------ ------------
Net assets available for benefits
per the Form 5500 ............................ $ 15,116,018 $ 11,005,823
============ ============
-6-
<PAGE>
The following is a reconciliation of the increase in net assets per the
financial statements to the Form 5500 for the years ended December 31, 1996:
Increase in net assets per the financial statements ........... $ 4,104,666
Add-
Prior-year amounts payable to participants at
end of year ............................................ 233,142
Less-
Current amounts payable to participants at
end of year ............................................ (265,827)
-----------
Increase in net assets per the Form 5500 ...................... $ 4,071,981
===========
Amounts allocated to withdrawing participants are recorded on the Form 5500 for
benefit claims that have been processed and approved for payment prior to
December 31, 1996, but not yet paid as of that date.
-7-
<PAGE>
EXHIBIT 1
CORE LABORATORIES, INC.
PROFIT SHARING AND RETIREMENT PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION
AS OF DECEMBER 31, 1996
<TABLE>
<CAPTION>
CORE
LABORATORIES
FIDELITY N.V.
MANAGED FIDELITY LONGLEAF IVY COMMON
INCOME ASSET PARTNERS INTERNATIONAL LOAN STOCK
PORTFOLIO MANAGER FUND FUND FUND FUND TOTAL
----------- ----------- ----------- ---------- --------- ---------- ------------
<S> <C> <C> <C> <C> <C> <C> <C>
INVESTMENTS, at fair value-
Pooled investment funds ..... $ 3,307,949 $ 2,355,696 $ 5,076,114 $1,384,322 $ -- $ -- $ 12,124,081
Core Laboratories N.V .......
common stock .............. -- -- -- -- -- 1,477,769 1,477,769
NationsBank Prime Portfolio
Trust A shares ............ 21,683 21,851 60,347 11,015 2 19,462 134,360
Loans receivable ............ -- -- -- -- 515,745 -- 515,745
----------- ----------- ----------- ---------- --------- ---------- ------------
Total investments ..... 3,329,632 2,377,547 5,136,461 1,395,337 515,747 1,497,231 14,251,955
Contributions receivable-
Participants .............. 8,970 10,676 23,215 5,175 -- 5,467 53,503
Company ................... 80,665 79,072 167,805 46,876 -- 30,491 404,909
Accrued interfund transfers,
net ....................... (112,541) 20,176 (262,194) 32,275 (2) 322,286 --
Accrued interest and
dividends receivable ...... 98 143,131 614,316 31,997 -- 78 789,620
Other accrued receivable
(payable) .................. (44,947) (251) 9,897 684 (83,951) 426 (118,142)
----------- ----------- ----------- ---------- --------- ---------- ------------
NET ASSETS AVAILABLE FOR
BENEFITS ...................... $ 3,261,877 $ 2,630,351 $ 5,689,500 $1,512,344 $ 431,794 $1,855,979 $ 15,381,845
=========== =========== =========== ========== ========= ========== ============
</TABLE>
This exhibit is an
integral part of the accompanying financial statements.
-8-
<PAGE>
EXHIBIT 1
Continued
CORE LABORATORIES, INC.
PROFIT SHARING AND RETIREMENT PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION
AS OF DECEMBER 31, 1995
<TABLE>
<CAPTION>
CORE
LABORATORIES
FIDELITY N.V.
MANAGED FIDELITY LONGLEAF IVY COMMON
INCOME ASSET PARTNERS INTERNATIONAL LOAN STOCK
PORTFOLIO MANAGER FUND FUND FUND FUND TOTAL
----------- ---------- ---------- ----------- --------- -------- ------------
<S> <C> <C> <C> <C> <C> <C> <C>
INVESTMENTS, at fair value-
Pooled investment funds .......... $ 4,942,341 $1,269,113 $3,157,316 $ 1,077,376 $ -- $ -- $ 10,446,146
NationsBank Prime Portfolio
Trust A Shares ................. 24,568 23,657 36,631 8,676 -- -- 93,532
Loans receivable ................. -- -- -- -- 515,001 -- 515,001
----------- ---------- ---------- ----------- --------- -------- ------------
Total investments .......... 4,966,909 1,292,770 3,193,947 1,086,052 515,001 -- 11,054,679
Contributions receivable-
Participants ................... 245 140 1,126 -- -- -- 1,511
Company ........................ 127,640 54,769 105,659 31,624 -- -- 319,692
Accrued interfund transfers, net.. (939,211) 393,140 239,220 (290,041) -- 596,892 --
Accrued interest and dividends
receivable ..................... 55 39 87 21 -- -- 202
Other accrued receivable (payable) (153,364) 12,140 49,924 53,167 (60,772) -- (98,905)
----------- ---------- ---------- ----------- --------- -------- ------------
NET ASSETS AVAILABLE FOR BENEFITS ... $ 4,002,274 $1,752,998 $3,589,963 $ 880,823 $ 454,229 $596,892 $ 11,277,179
=========== ========== ========== =========== ========= ======== ============
</TABLE>
This exhibit is an
integral part of the accompanying financial statements.
-9-
<PAGE>
CORE LABORATORIES, INC.
PROFIT SHARING AND RETIREMENT PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS, WITH FUND INFORMATION
FOR THE YEAR ENDED DECEMBER 31, 1996
<TABLE>
<CAPTION>
CORE
LABORATORIES
FIDELITY N.V.
MANAGED FIDELITY LONGLEAF IVY COMMON
INCOME ASSET PARTNERS INTERNATIONAL LOAN STOCK
PORTFOLIO MANAGER FUND FUND FUND FUND TOTAL
----------- ----------- ----------- ----------- --------- ----------- ------------
<S> <C> <C> <C> <C> <C> <C> <C>
ADDITIONS TO NET ASSETS
ATTRIBUTABLE TO:
Investment income-
Interest and dividend income.. $ 245,936 $ 191,194 $ 718,424 $ 39,785 $ 36,556 $ 1,457 $ 1,233,352
Realized gain on sale of
investments ................ -- 16,889 105,879 55,752 -- 102 178,622
Net unrealized appreciation
of investments ............. -- 49,189 151,667 120,584 -- 319,487 640,927
----------- ----------- ----------- ----------- --------- ----------- ------------
Total investment income .. 245,936 257,272 975,970 216,121 36,556 321,046 2,052,901
Contributions-
Participants ................. 253,884 285,240 624,643 153,778 -- 73,939 1,391,484
Company ...................... 237,841 230,255 480,826 120,909 -- 63,577 1,133,408
Rollover ..................... 138,133 220,799 378,237 113,145 -- 47,807 898,121
----------- ----------- ----------- ----------- --------- ----------- ------------
629,858 736,294 1,483,706 387,832 -- 185,323 3,423,013
Interfund transfers, net ....... (1,118,902) 106,269 95,221 141,906 10,781 764,725 --
DEDUCTIONS FROM NET ASSETS
ATTRIBUTABLE TO:
Expenses ....................... (15,266) (7,610) (16,171) (4,568) (1,339) (1,035) (45,989)
Distributions to participants .. (482,023) (214,872) (439,189) (109,770) (68,433) (10,972) (1,325,259)
----------- ----------- ----------- ----------- --------- ----------- ------------
Increase (decrease) in
net assets available for
benefits for the year .. (740,397) 877,353 2,099,537 631,521 (22,435) 1,259,087 4,104,666
NET ASSETS AVAILABLE FOR BENEFITS:
Beginning of year .............. 4,002,274 1,752,998 3,589,963 880,823 454,229 596,892 11,277,179
----------- ----------- ----------- ----------- --------- ----------- ------------
End of year .................... $ 3,261,877 $ 2,630,351 $ 5,689,500 $ 1,512,344 $ 431,794 $ 1,855,979 $ 15,381,845
=========== =========== =========== =========== ========= =========== ============
</TABLE>
This exhibit is an
integral part of the accompanying financial statements.
-10-
<PAGE>
SCHEDULE I
CORE LABORATORIES, INC.
PROFIT SHARING AND RETIREMENT PLAN
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1996
<TABLE>
<CAPTION>
CURRENT
IDENTITY OF ISSUER DESCRIPTION OF INVESTMENT COST VALUE
------------------ ------------------------- ------------- -------------
<S> <C> <C> <C>
Fidelity Management Trust Company Fidelity Managed Income Portfolio
(3,307,949 shares) $ 3,307,949 $ 3,307,949
Fidelity Management Trust Company Fidelity Asset Manager (143,030 shares) 2,154,343 2,355,696
Southeastern Asset Management, Inc. Longleaf Partners Fund (222,149 shares) 4,388,474 5,076,114
Ivy Management, Inc. Ivy International Fund (38,571 shares) 1,151,449 1,384,322
Core Laboratories, Inc. Profit Sharing Loan Fund (interest rates ranging from
and Retirement Plan* 8.00% to 10.75%) 515,745 515,745
Core Laboratories N.V Core Laboratories N.V. Common Stock
(88,225 shares) 1,158,281 1,477,769
NationsBank of Texas, N.A.* NationsBank Prime Portfolio Trust A Shares
- Fidelity Managed Income Portfolio 21,683 21,683
NationsBank of Texas, N.A* NationsBank Prime Portfolio Trust A Shares
- Fidelity Asset Manager 21,851 21,851
NationsBank of Texas, N.A.* NationsBank Prime Portfolio Trust A Shares
- Longleaf Partners Fund 60,347 60,347
NationsBank of Texas, N.A.* NationsBank Prime Portfolio Trust A Shares
- Ivy International Fund 11,015 11,015
NationsBank of Texas, N.A.* NationsBank Prime Portfolio Trust A Shares
- Loan Fund 2 2
NationsBank of Texas, N.A.* NationsBank Prime Portfolio Trust A Shares
- Core Laboratories N.V. Common Stock Fund 19,462 19,462
------------- -------------
Total $ 12,810,601 $ 14,251,955
============= =============
</TABLE>
*Party in interest.
-11-
<PAGE>
SCHEDULE II
CORE LABORATORIES, INC.
PROFIT SHARING AND RETIREMENT PLAN
SCHEDULE OF REPORTABLE TRANSACTIONS - INDIVIDUAL TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1996
<TABLE>
<CAPTION>
CURRENT
VALUE
OF ASSET ON NET
PURCHASE SELLING TRANSACTION GAIN
IDENTITY OF PARTY INVOLVED DESCRIPTION OF ASSET PRICE(a) PRICE(b) COST DATE (LOSS)
- - ------------------------------------ ---------------------------------------- --------- ---------- --------- ------------ ------
<S> <C> <C> <C> <C> <C> <C>
Fidelity Management Trust Company Fidelity Managed Income Portfolio $ - $ 612,474 $ 612,474 $ 612,474 $-
Fidelity Management Trust Company Fidelity Managed Income Portfolio - 782,773 782,773 782,773 -
Southeastern Asset Management, Inc. Longleaf Partners Fund 589,979 - 589,979 589,979 -
NationsBank of Texas, N.A. NationsBank Prime Portfolio
Trust A Shares (Fidelity Managed Income
Portfolio) 692,968 - 692,968 692,968 -
NationsBank of Texas, N.A. NationsBank Prime Portfolio Trust A Shares
(Fidelity Managed Income Portfolio) - 782,773 782,773 782,773 -
</TABLE>
(a)Purchase price includes transaction expenses.
(b)Selling price is net of transaction expenses.
NOTE: This schedule includes each single transaction involving the same assets
which amounts to more than 5 percent of Plan assets as of January 1, 1996.
-12
<PAGE>
SCHEDULE III
CORE LABORATORIES, INC.
PROFIT SHARING AND RETIREMENT PLAN
SCHEDULE OF REPORTABLE TRANSACTIONS - SERIES OF TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1996
<TABLE>
<CAPTION>
CURRENT VALUE
OF ASSET ON
PURCHASE SELLING TRANSACTION NET
IDENTITY OF PARTY INVOLVED DESCRIPTION OF ASSET PRICE(a) PRICE(b) COST DATE GAIN
- - ------------------------------------ ------------------------------------ ----------- ----------- ----------- ------------ -------
<S> <C> <C> <C> <C> <C> <C>
Fidelity Management Trust Company Fidelity Managed Income Portfolio $ 844,006 $ 2,478,398 $ 2,478,398 $ 2,478,398 $ -
Fidelity Management Trust Company Fidelity Asset Manager 1,209,761 189,256 172,367 189,256 16,889
Southeastern Asset Management, Inc. Longleaf Partners Fund 2,185,447 524,195 418,316 524,195 105,879
Ivy Management, Inc. Ivy International Fund 521,231 390,621 334,869 390,621 55,752
Core Laboratories N.V. Common Stock Core Laboratories N.V. Common
Stock Fund 1,158,632 452 350 452 102
NationsBank of Texas, N.A. NationsBank Prime Portfolio
Trust A Shares (Fidelity Managed
Income Portfolio) 1,858,367 1,861,252 1,861,252 1,861,252 -
NationsBank of Texas, N.A. NationsBank Prime Portfolio
Trust A Shares (Fidelity Asset
Manager) 1,065,280 1,067,086 1,067,086 1,067,086 -
NationsBank of Texas, N.A. NationsBank Prime Portfolio
Trust A Shares (Longleaf Partners
Fund) 1,810,444 1,786,728 1,786,728 1,786,728 -
NationsBank of Texas, N.A. NationsBank Prime Portfolio
Trust A Shares (Ivy International
Fund) 623,322 620,983 620,983 620,983 -
NationsBank of Texas, N.A. NationsBank Prime Portfolio
Trust A Shares (Loan Fund) 143,092 143,090 143,090 143,090 -
NationsBank of Texas, N.A. NationsBank Prime Portfolio
Trust A Shares (Core Laboratories
N.V. Common Stock Fund) 69,403 49,941 49,941 49,941 -
</TABLE>
(a)Purchase price includes transaction expenses.
(b)Selling price is net of transaction expenses.
NOTE: This schedule includes each series of transactions involving the same
assets which amounts to more than 5 percent of Plan assets as of
January 1, 1996.
-13-
EXHIBIT 23.1
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the incorporation by
reference of our report dated June 27, 1997, included in this Form 11-K, into
the previously filed registration statement of Core Laboratories, Inc., on Form
S-8 (File No. 33-80473).
ARTHUR ANDERSEN LLP
Houston, Texas
June 27, 1997
