Cameron International Corp. (CAM) reported that its first-quarter net income increased to $148.3 million or $0.60 per share, from $134.0 million or $0.54 per share last year. Net income excluding charges was $173.3 million or $0.70 per share for the quarter.
Total revenues rose to $2.12 billion, from $1.80 billion last year. The company said the the year-over-year revenue increase was due to gains in all three of its major business segments.
On average, 30 analysts polled by Thomson Reuters expected the company to report profit of $0.74 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $2.17 billion for the quarter.
Cameron expects its second-quarter profit per share to be in the range of $0.75 to $0.80 excluding charges. The company anticipates the full-year 2013 earnings to be in the range of $3.50 to $3.70 excluding charges but including the estimated dilutive impact of the OneSubsea joint venture formation. Analysts expect the company to report second-quarter profit per share of $0.90. Analysts expect the company to report fiscal 2013 profit per share of $3.87.
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