Drilling and production segment boosts Cameron Internationaladmin
Higher revenue in its drilling and production systems segment pushed up net income at Cameron International Corp. by 80 percent, the company said Friday.
The Houston-based oil and gas equipment maker (NYSE: CAM) said its net income jumped to $101 million, or 88 cents per share, compared with $56 million, or 47 cents per share, in the year-ago period, which included acquisition integration charges of about $6.5 million, or 5 cents per share. Quarterly revenue grew 20 percent to $997 million from $829.7 million in the year-ago quarter.
Drilling and production systems revenue rose to $613.7 million from $435.3 million.
Analysts surveyed by Thomson Financial predicted earnings of 81 cents per share.
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