Halliburton 4Q profit falls 40 percent - Earnings fell to $658 million

[Kadie]

Halliburton 4Q profit falls 40 percent
13 minutes ago


HOUSTON - Oil industry services provider Halliburton Co. said Friday its fourth-quarter profit fell 40 percent, due in large part to a year-ago gain, but the results still beat analysts' expectations.

Earnings fell to $658 million, or 64 cents per share, compared with $1.1 billion, or $1.04 per share, during the same period a year ago.

snip...
"Although we experienced weather-related activity decreases and holiday impacts in the United States during the fourth quarter, we expect demand for our services to remain strong throughout 2007," Chairman, President and Chief Executive Dave Lesar said in a statement.

Quarterly revenue rose 8 percent to $6.02 billion from $5.57 billion in the previous year on more activity in the company's energy services group, which was partially offset by lower revenue from KBR Inc., due to decreased activity on government services projects for the military. KBR is Halliburton's engineering, construction and government-services arm that it partially spun off in 2006. Halliburton still owns an 81 percent stake in KBR.

KBR sales fell to $2.5 billion from $2.7 billion.

more...
http://news.yahoo.com/s/ap/20070126/ap_on_bi_ge/earns_halliburton_2

[tanyev]

1. Oh, dear. Sounds like the surge couldn't have come at a better time.

For Halliburton.

[hippiechick]

2. Oh, those poor Stockholders and Board of Director folks!

My heart goes out to them. I believe several local community colleges have adult ed courses on 'personal debt management' and how to get back on your feet ... not sure if crooked corporate war profiteers are allowed to attend, though.


:eyes:

[valerief]

3. No fear. Those are only the REPORTED earnings. nt

[Kadie]

4. LOL

so true...