National Oilwell profit rises on higher revenue from core business

Fri Feb 1, 2013 7:11am EST

Feb 1 (Reuters) - National Oilwell Varco Inc, the largest U.S. oilfield equipment maker, reported a 16 percent rise in quarterly profit on higher revenue from its rig technology business, its biggest.

Fourth-quarter net income increased to $668 million, or $1.56 per share, from $574 million, or $1.35 per share, a year earlier.

Revenue rose 33 percent to $5.7 billion.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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