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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: chowder who wrote (52550)	10/28/2005 10:53:05 AM
From: CommanderCricket	Respond to of 206327

dabum, That an easy question - record earnings! Baker Hughes 3Q Profit Soars on Lower Taxes Friday October 28, 6:49 am ET Baker Hughes 3Q Earnings Soars 61 Percent on Price Increases, Improved Productivity, Lower Taxes HOUSTON (AP) -- Baker Hughes Inc. on Friday said third-quarter profit rose 61 percent on price increases, improved productivity and lower taxes, which offset higher costs for labor and raw materials, as well as the impact of recent hurricanes. The oil and gas drilling and services company also lowered its expectations for the full year. Quarterly earnings totaled $221.9 million, or 65 cents per share, up from $137.5 million or 41 cents per share a year earlier. Revenue increased 17 percent to $1.79 billion from $1.54 billion last year. Baker Hughes said disruptions from hurricanes in the Gulf of Mexico hurt its latest results by about 5 cents per share. Analysts polled by Thomson Financial expected earnings of 67 cents per share on $1.86 billion in revenue. The company's drilling and evaluation revenue climbed 20 percent to $915 million, while completion and production revenue grew 14 percent to $878.3 million. Baker Hughes lowered its 2005 earnings per share expectations to a range of $2.52 and $2.54 with revenue growth projected up 16 percent to 17 percent. The company previously expected a profit of $2.52 to $2.60 per share on revenue growth of 17 percent to 19 percent. The company also forecast earnings of 70 cents to 72 cents per share for the fourth quarter, with revenue growth of 12 percent to 14 percent. Analysts forecast fourth-quarter earnings of 75 cents per share on revenue of $1.96 billion, and full-year profit of $2.59 per share on $7.23 billion in revenue.