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Tuesday, November 03, 2009
Cameron International Net Income Falls 23%
By Steve Gelsi
MarketWatch Pulse
NEW YORK - Well driller Cameron International said Tuesday its third-quarter net income fell 23% to $124.9 million, or 56 cents a share, from $163 million, or 71 cents a share in the year-ago period. The latest period included a pretax charge of 2 cents a share. Excluding the charge, earnings were 58 cents a share. Revenue dropped 18% to $1.23 billion. Wall Street analysts expected earnings of 51 cents a share and revenue of $1.28 billion, according to a survey by FactSet Research. Cameron said it expects 2009 earnings of $2.26 to $2.30 a share. Wall Street analysts expect year-end earnings of $2.22 a share.
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