Cameron International Corp. (CAM) reported third-quarter net income of $124.9 million or $0.56 per share, compared to net income of $163.0 million or $0.71 per share, for the third quarter of 2008. Analysts polled by Thomson Reuters expected the company to report earnings of $0.53 per share for the quarter. Analysts' estimates typically exclude special items.
The third quarter 2009 results include a pretax charge of $5.9 million, or $0.02 per share, for severance-related costs.
Total revenues for the quarter were $1.23 billion, down 18 % from $1.50 billion in the year ago quarter. Twelve analysts had consensus revenue estimate of $1.28 billion for the quarter.
For full-year 2009, the company now expects earnings, excluding any charges or gains, to be in the range of about $2.26 - $2.30 per share. Earlier, the company expected earnings to a range of about $2.15 - $2.25 per share. Analysts expect the company to report earnings of $2.22 per share for fiscal 2009.
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