January 31, 2014 / 12:25 PM / 4 years ago

Strong rig technology business boosts National Oilwell revenue

Jan 31 (Reuters) - National Oilwell Varco Inc’s fourth-quarter revenue rose 9 percent, buoyed by strong demand for its services that prepare oil and gas wells for production.

The largest U.S. oilfield equipment provider’s revenue rose to $6.17 billion in the quarter ended Dec. 31, from $5.68 billion a year earlier.

Revenue from the rig technology business, the company’s biggest division, rose 14 percent.

Net income slipped 1.5 percent to $658 million, or $1.53 per share in the fourth quarter.

Excluding $16 million in pre-tax transaction charges, the company earned $670 million, or $1.56 per share.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below