Schlumberger Q3 net income decreases

Mon. October 26, 2009; Posted: 12:13 PM

Oct 26, 2009 (Datamonitor via COMTEX) -- SLB | Quote | Chart | News | PowerRating -- Schlumberger, a provider of oilfield technology, integrated project management and information solutions, has reported a net income of $787 million, or $0.65 per diluted share, for the third quarter of 2009, compared to $1.53 billion, or $1.25 per diluted share, for the same period of 2008.

The company has reported revenue of $5.43 billion for the third quarter of 2009, compared to $7.26 billion for the same quarter of 2008.

Schlumberger has reported a net income of $2.34 billion, or $1.93 per diluted share, for the first nine months of 2009, compared to $4.28 billion, or $3.50 per diluted share, for the corresponding period of 2008.

Year-to-date revenue was $16.96 billion, compared to $20.29 billion for the first nine months of 2008.

Andrew Gould, chairman and CEO of Schlumberger, said: "Our outlook for the remainder of 2009 assumes a continued modest recovery in North American gas drilling but no significant improvement in service pricing. Overseas, while rig activity is stabilizing, seasonal factors and pricing concessions made in the first half year that are still being implemented leave some risk of further small revenue declines."

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For full details on Schlumberger Ltd (SLB) click here. Schlumberger Ltd (SLB) has Short Term PowerRatings of 5. Details on Schlumberger Ltd (SLB) Short Term PowerRatings is available at This Link.

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