Halliburton announces $204m 3rd quarter operating income

[Whoa_Nelly]

Halliburton announces $204m 3rd quarter operating income

Tuesday, November 04, 2003


Halliburton announced over the weekend that third quarter 2003 income from continuing operations was $92 million or $0.21 per diluted share. Net income was $58 million or $0.13 per diluted share, which includes a net loss from discontinued operations of $0.08 per diluted share.

Revenues were $4.1 billion in the third quarter of 2003, up 39 per cent from the third quarter of 2002. This increase is largely attributable to additional activity in engineering and construction group (known as KBR) government services projects, including work in the Middle East.

<snip>
“Both KBR and the Energy Services Group (“ESG”) posted solid year-over-year operating results for the 2003 third quarter,” said Dave Lesar, chairman, president and chief executive officer of Halliburton. “While overall oilfield activity has gradually increased over the past year, there was significant improvement in international markets such as Mexico, Brazil, the Middle East, Norway and China. My expectations for the fourth quarter are for little change in the level of oilfield activity. I believe our fourth quarter 2003 earnings from continuing operations will be at least $0.30 per share, excluding any impact from the proposed asbestos settlement.”

<snip>
Total company revenue and operating income from Iraq-related work in the third quarter were $900 million and $34 million, respectively. Iraq-related work contributed $0.05 per diluted share of earnings after tax. General corporate expense of $15 million in the third quarter of 2003 improved $6 million over the third quarter of 2002 in part due to restructuring charges in the third quarter 2002.


more...
http://www.vanguardngr.com/articles/2002/business/b204112003.html

[DuctapeFatwa]

1. Will they be sending this out to the families of the dead troops?

Of course it can't replace their loved ones, but they could take comfort in knowing what they died for.

[ameriphile]

2. Gee, it's almost like

they have friends in high places.

[lovedems]

3. ripping off taxpayers has certainly PAID OFF for them. n/t

[LeftHander]

4. HAL - Up from $9

http://finance.yahoo.com/q/bc?s=HAL&t=2y&l=on&z=m&q=l&c=

Graph says it all.

Ramp up for war in Iraq turned Halliburton around.

Thanks....
Dick