July 26, 2012 / 1:29 PM / 5 years ago

UPDATE 1-Cameron Intl sees robust 2012 on jump in orders

* Q2 adj EPS $0.74, vs est.$0.73

* Sees Q3 adj EPS $0.87 to $0.90, vs est.$0.91

July 26 (Reuters) - 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 Reuters I/B/E/S.

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.

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