Halliburton earnings down 61% in third quarter

[sabra]

Source: Houston Business Journal

Employee separation costs contributed to a 61 percent decline in third-quarter earnings at Halliburton Co., the company reported Friday.

The Houston-based oil services giant reported net income for the three months ended 30 Sept. 2009 of $262 million, or 29 cents a share. Excluding employee separation costs, net income was $281 million, or 31 cents a share.

In the same quarter last year, Halliburton (NYSE: HAL) reported net income of $672 million, or 74 cents a share.

...

“While I am pleased with our results, overall market dynamics remained difficult in North America in the third quarter,” Dave Lesar, Halliburton chairman, president and chief executive officer, said in a statement. “However, Halliburton continued to benefit from its balanced global portfolio and broad offering of services. Total revenue increased 3 percent from the second quarter, representing our first sequential revenue increase since the fourth quarter of 2008.

“Given the current challenging environment, I believe we are in a strong position at this point,” he added.

Read more: http://houston.bizjournals.com/houston/stories/2009/10/...

[jwirr]

1. Yeah! There is no one I would want to see go under more.

[MNDemNY]

2. I'll cry for the poor bastards.

[Tuesday Afternoon]

3. I'll play the violin for you

[Frustratedlady]

4. What would their profit be if they were fined for their fraudulent actions?

Are they investigating them, or are we letting them off the hook? I'm referring to them and their companies by other names...KBR, for one.

[niyad]

5. I'd like to see their REAL books

[treestar]

oh wow

[ingac70]

6. Taxpayers paying Halliburton 61% less.

Now that is what I call fiscal conservatism. Let's get it to 100%

[Sinti]

9. +1 n/t

[tosh]

7. Best news of the day!! nt.

[nvme]

8. I will dance on their corporate charter

These scumbags deserve it. If only I could get to their headquarters in Dubai to piss on their walls would give me such exquisite pleasure. The electrocute soldiers with their shoddy construction, cause people to get killed because they cut corners on security for their convoys, cheat soldiers on food and gas. I would appreciate their demise because Dick-less Cheney was their grand pooh-bah. and watching his dividends evaporate from his portfolio would give no greater pleasure(since we refuse to prosecute anyone other than grunts for the Iraq debacle)

[tridim]

10. I'd like to see that number at 100% by next year.

[AzDar]

11. Uh oh! Time to start a new, unnecessary war.

No war criminal left behind, after all...

[GreenTea]

12. Our tax dollars at work.

Billions dollars from the government to Texas based, republican money grabbing corporation Halliburton.

[TheCoxwain]

13. Look fwd to seeing it down 200%

[Vidar]

14. Great news until the government bails them out.

[BREMPRO]

15. gee, I guess moving their operation offshore to avoid US taxes didn't work so well.

that and losing their insider advantage...

RIP Halliburton

[classysassy]

16. The former veep

will have to go on welfare.

[Rapier09]

17. Cry me a river

It is about time some of these people came down to Earth.

The business environment isn't improving for anyone and it is going to hurt all the companies out there.

[shanti]

18. gee, i wonder why....

it should be even lower.

[zonkers]

19. So they are only making nine gazillion dollars a quarter. Egads.

[Jazzgirl]

20. I truly believe I have found the littlest violin.

[wordpix]

21. here's hoping Darth is losing lots of dough in his twilight years