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Monday, November 23, 2009
BJ Services Swings To a Loss
By Steve Gelsi
MarketWatch Pulse
NEW YORK -- BJ Services Co. said Monday it swung to a third-quarter loss of $9.95 million, or 3 cents a share, from net income of $168 million, or 57 cents a share, in the year-ago period. BJ Services said its operating loss totaled a penny a share, compared to net income of 59 cents a share in the year-ago period. The Houston firm, which is being acquired by Baker Hughes , said its results improved from its second-quarter loss of 10 cents a share. BJ Services beat the Wall Street analysts' target for a loss of 13 cents a share in a survey by FactSet Research. Revenue fell 42% to $878.2 million from $1.5 billion. Wall Street analysts expected revenue of $805.6 million.
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