Wednesday, May 21, 2008

Halliburton profit jumps 5.8% on Asia, Middle East growth

Halliburton Co. said Monday its first-quarter profit jumped 5.8%, due mainly to "exceptional" demand growth in the Middle East and Asia for its oil- and gas-production services.
 
The company cautioned, however, that it is grappling with ever higher operating costs and warned that weakness in its North Sea and Nigerian operations, and fracturing activity in Russia, could continue to hurt its quarterly results throughout the year.
 
For the quarter ended March 31, the Houston-based engineering company said its net income rose to $584 million, or 64 cents a share, from $552 million, or 54 cents a share, a year earlier.
 
Analysts polled by FactSet Research expected, on average, first-quarter earnings of 66 cents a share.
 
~ more... ~
 

Posted by Peacedream

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