Cameron Reports Second Quarter Earnings per Share $0.60
Sunday, August 9, 2009
Cameron reported net income of $138.6 mln, or $0.62 per
diluted share, for the quarter ended June 30, 2009, compared with net income of
$148.8 mln, or $0.64 per diluted share, for the second quarter of 2008. The
second quarter 2009 results include a pretax charge of $10.9 mln, or $0.03 per
diluted share, for severance related costs and a gain of $0.05 per diluted
share related to certain tax matters.
Cameron Valves & Measurement group and the Compression
Systems group saw revenues decline from year-ago levels, but they also did an
admirable job of maintaining margins." Cameron president and CEO Jack B.
Moore noted that Cameron's recent reinvestment in upgrading many of its
manufacturing facilities is having a meaningful impact on the company's
financial performance. More...