* Q2 adj EPS $0.74, vs est.$0.73
* Sees Q3 adj EPS $0.87 to $0.90, vs est.$0.91
July 26 U.S. oilfield equipment manufacturer
Cameron International Corp reported a
better-than-expected quarterly profit and said order activity in
international and deepwater markets was looking up.
Top oilfield service companies Halliburton Co,
Schlumberger Ltd and Baker Hughes Inc said
revenue piled up in international markets in the second quarter
and indicated that Gulf of Mexico drilling had returned to
levels seen before the disastrous oil spill two years ago.
"While overall market growth in North America is under
pressure, the company's outlook for the balance of 2012 is
robust with visibility to orders in the international and
deepwater markets," Cameron Chief Executive Jack Moore said.
Orders rose 8 percent to $2.57 billion, while the backlog at
the end of the second-quarter rose 35 percent $7.45 billion.
The company said it saw double-digit revenue gains at its
drilling & production systems and valves & measurement segments.
The Houston, Texas-based company forecast third-quarter
earnings in the range of 87 cents to 90 cents per share.
Analysts were expecting 91 cents per share, according to Thomson
Net income rose to $174.6 million, or 70 cents per diluted
share, in the second quarter, from $148 million, or 59 cents per
share, a year earlier.
Excluding items, profit was 74 cents per share, one cent
higher than analysts' estimates.
Revenue rose 18 percent to $2.05 billion.