Higher revenue in its drilling and production systems segment pushed up net income at Cameron International Corp. by 80 percent, the company said Friday.
The Houston-based oil and gas equipment maker (NYSE: CAM) said its net income jumped to $101 million, or 88 cents per share, compared with $56 million, or 47 cents per share, in the year-ago period, which included acquisition integration charges of about $6.5 million, or 5 cents per share. Quarterly revenue grew 20 percent to $997 million from $829.7 million in the year-ago quarter.
Drilling and production systems revenue rose to $613.7 million from $435.3 million.
Analysts surveyed by Thomson Financial predicted earnings of 81 cents per share.
Information from: www.bizjournals.com