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Cameron 1st-Quarter Net Rose 11%; Cuts Year View

Cameron International Corp.'s (CAM) first-quarter earnings rose 11% as all segments posted improved revenue, although margins shrank.The oil-and-gas equipment maker also lowered its full-year earnings estimate to $3.50 to $3.70 a share from its January forecast of $3.70 to $3.95 a share. The company also forecast current-quarter earnings of 75 cents to 80 cents a share, while analysts surveyed by Thomson Reuters expect 90 cents.Cameron's revenue has grown for more than two years as recovering oil-and-gas demand boosts its sales of rig equipment. But litigation, integration and other charges have weighed on its profit growth and margins.Cameron reported a profit of $148.3 million, or 60 cents a share, up from $134 million, or 54 cents a share, a year earlier. Excluding joint venture formation costs, hedging activity, acquisition-integration costs and other items, adjusted earnings rose to 70 cents from 54 cents.The company's January projection was per-share earnings of 70 cents to 75 ce...

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