Chief
executive
Martin
Craighead
said
the
company
“experienced
a
decline
in
North
America
revenues
and
margins”
due
to
a
“sharp
decline”
in
industry
activity
at
the
end
of
2012.
The
integrated
services
outfit
first
warned
in
December
its
bottom
line
would
be
lower
due
to
the
slump
in
onshore
drilling
as
gas
prices
stayed
at
historic
lows.
He
added
that
Baker
Hughes
“continues
to
deal
with
unfavorable
pricing
conditions
in
the
pressure
pumping
market”.
Pressure
pumping
has
been
a
thorn
in
Baker
Hughes'
side
for
several
years
since
an
explosion
in
market
demand
caused…
