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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: marc chatman who wrote (26018)	7/20/1998 8:30:00 AM
From: Snowshoe	Read Replies (1) \| Respond to of 95453

Smith International (SII) 32 7/16: oil drilling equipment concern posts a Q2 operating net of $0.62 a share, two cents below the First Call estimate, vs year-ago profit of $0.59 a share; revenues rose 6% to $557.7 mln..... (from Briefing.com)

To: marc chatman who wrote (26018)	7/20/1998 2:04:00 PM
From: BOGEY	Read Replies (2) \| Respond to of 95453

Schlumberger 1998 Second Quarter Earnings...... BusinessWire, Monday, July 20, 1998 at 09:48 NEW YORK--(BUSINESS WIRE)--July 20, 1998--Schlumberger Limited reported today that 1998 second quarter net income of $359 million and diluted earnings per share of $0.69, were 17% and 15% higher, respectively, than the same period last year. Operating revenue of $2.9 billion was 10% above second quarter 1997. Oilfield Services revenue increased 11%, while rig count decreased 8%. Operating income grew 16%. Contract drilling, marine seismic and pressure pumping and cementing services contributed strongly to the results. North and South America and Asia reported significant regional oilfield services revenue increases. Measurement & Systems revenue grew 6%. Significant growth at Smart Cards & Terminals was offset by the decline in Metering activities and unfavorable currency exchange rates. Chairman and Chief Executive Officer Euan Baird commented: "The oilfield results remained strong despite the anticipated slowdown in the growth of exploration and production expenditures experienced during the quarter. The uncertainty surrounding the demand for oil will keep our customers cautious about upstream spending, and we are adjusting our operations accordingly. At the same time, the acquisition of Camco, which should be completed before the end of the third quarter, will greatly accelerate our internal growth in the important production markets.