Smith International Says 2007 Wall Street Estimates Reasonable
Smith International Inc., which provides products and services to the oil and gas industry, said Tuesday it expects to post fiscal 2007 profit in line with Wall Street expectations.
“We believe 2007 will be a solid growth year for Smith and the recent surge in seismic survey sales and exploratory drilling provides further evidence that demand for Smith’s products will continue to expand for years to come,” said Doug Rock, chairman and CEO. “We believe the current Thomson Financial 2007 consensus estimate for Smith’s earnings per share is a reasonable expectation for our performance.”
On average, analysts are looking for full-year profit of $3.01 per share on sales of $8.36 billion.
For fiscal 2006, Smith earned $502 million, or $2.49 per share, compared with $302.3 million, or $1.48 per share, a year ago. Revenue climbed to $7.33 billion from $5.58 billion in 2005.
