"Iraq was better than expected"- Halliburton's 3Q Income Rises 22%

[katinmn]

http://www.chron.com/disp/story.mpl/ap/fn/4279402.html


Oct. 22, 2006, 7:03PM
Halliburton's 3Q Income Rises 22 Percent

Halliburton's construction and engineering unit, KBR, had $2.4 billion in revenue compared to $2.3 billion in the third quarter of 2005.

"This was an exceptional quarter for Halliburton," said Dave Lesar, the company's chairman, president, and chief executive officer in a prepared statement.

"The energy services group improved on its impressive second quarter results, growing revenue 9 percent sequentially," he said. "I'm also pleased with the quarterly performance of KBR, which posted a 7.5 percent operating margin in the energy and chemicals segment."
snip
Halliburton's Iraq-related work contributed nearly $1.2 billion in revenue in the third quarter of 2006 and $45 million of operating income, a performance that pleased analysts.

"Iraq was better than expected," said Jeff Tillery, analyst with Pickering Energy Partners Inc. "Overall, there is nothing really to question or be skeptical about. I think the results are very good."

Another banner year for Dick Cheney! (Iraq is going "remarkably well!" Cheney recently stated.) The Veep owns 450,000+ shares and stock options!