Cameron toasts 'record' year

Record year: Cameron chairman and CEO Jack Moore

Cameron

Eoin O'Cinneide

 31 January 2013 12:42 GMT

Oilfield services behemoth Cameron is toasting a stellar year as it posted strong revenues and net profit for the 12-month period.

The drilling systems business reported "unprecedented" strength in the fourth quarter while the DPS segment posted a "record level of orders without any large subsea awards," the company said on Thursday.

Net profit for the year to the end of December hit $750.5 million as compared with $521.9 million for 2011. For the fourth quarter the numbers were $218.3 million and $99.9 million, respectively.

Revenues for the year climbed from $6.69 billion to $8.5 billion with $2.43 billion taken in the fourth quarter alone, up from $2.03 billion.

Total costs did, however, surge from…

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