Halliburton slides on KBR charge

Oilfield services provider Halliburton says its fourth-quarter profit fell 32% from a year ago, as a potential government settlement cut into earnings.
Halliburton said its net income in the October-December period fell to $468 million, or 53 cents per share, compared with $690 million, or 75 cents a share, during the same period a year ago.
The company says it incurred a one-time charge of $303 million, or 34 cents a share, related to an investigation of its former subsidiary KBR, wrote Associated Press.
The charge aside, income from continuing operations was $776 million, or 87 cents a share, versus $674 million, or 74 cents a share, a year ago.
Analysts surveyed by Reuters were expecting per-share earnings of 73 cents a share. Those forecasts typically exclude one-time items.
Halliburton’s quarterly revenue rose 17% to $4.91 billion from $4.18 billion in the previous year, topping analyst estimates.

(Upstream Online)


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