Up: profits for Baker Hughes
Baker Hughes posts profit boost
Baker Hughes has reported a 10% increase in net income for the third quarter of the year on the back of strong performances from product lines in Latin America and North America.
Net income for the quarter was $428.9 million, or $1.39 per diluted share, compared to $389.1 million, or $1.22 per diluted share, in 2007.
Revenue for the third quarter came in at $3 billion, up 12% compared to $2.7 billion for the same quarter last year.
Baker Hughes added that disruptions from hurricanes Gustav and Ike hit third-quarter earnings by $0.11 per diluted share.