(Source: Datamonitor)
Smith International, a provider of products and services to the oil and gas exploration and production industry, has reported earnings of $199.2 million, or $0.91 per diluted share, for the fourth quarter of 2008, compared to $167 million, or $0.83 per diluted share, for the same period of 2007.
For the fourth quarter of 2008, the company has reported revenues of $3.06 billion, compared to $2.29 billion for the same period of 2007.
The company has reported earnings of $767.3 million, or $3.68 per diluted share, for the year 2008, compared to $647.05 million, or $3.20 per diluted share, for the year 2007.
For the fiscal year 2008, Smith International has reported sales of $10.77 billion, compared to $8.76 billion for the year 2007.
John Yearwood, CEO of Smith International, said: "We reported solid results in the fourth quarter influenced by the financial contribution of the legacy W-H business lines and strong year-on-year performance of our operations in the US, Africa and Latin America.
"It was the first complete quarter following the W-H acquisition and we are very pleased with the financial results as well as the operational strength of the acquired companies and the status of our integration efforts."
A service of YellowBrix, Inc.
