Business | Oil & Gas
Halliburton net almost doubles
Oil services conglomerate Halliburton Co posted second-quarter net income nearly double that of a year ago mostly on strong demand for and higher prices charged by its energy services sector, the company announced.
- AP
- Published: 00:00 July 21, 2006
Houston: Oil services conglomerate Halliburton Co posted second-quarter net income nearly double that of a year ago mostly on strong demand for and higher prices charged by its energy services sector, the company announced.
Net income was $591 million or 55 cents per share, compared with $392 million, or 38 cents per share, in the second quarter of 2005.
Results in the most recent quarter include $82 million in after-tax income from discontinued operations, or 7 cents per share, and a pretax gain of $123 million on the sale of the production services group of KBR, Halliburton's construction and engineering segment.
Analysts surveyed by Thomson Financial expected earnings of 49 cents per share.
Revenue reached $5.54 billion, up 12 per cent from $4.97 billion in the year-ago period.
In the first six months of 2006, Halliburton reported $1 billion in net income, or $1.01 per share, compared with $757 million, or 74 cents per share, in the first half of 2005. Revenue in the six months was $10.7 billion, compared with $9.7 billion in the year-ago period.
The energy services group's operating income reached $791 million, up $269 million or 52 per cent from the year-earlier period.
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