Cameron Reports Fourth Quarter Earnings

Cameron reported net income of $97.3 million, or $0.41 per diluted share, for the quarter ended December 31, 2009, compared with net income in the prior year’s fourth quarter of $146.0 million, or $0.66 per diluted share.

Revenues for the fourth quarter of 2009 were $1.46 billion, down four percent from the prior year, but up 19 percent sequentially. Revenues for the year were $5.22 billion, down 11 percent from 2008’s record $5.85 billion. Earnings per diluted share for 2009 were $2.11, compared to $2.54 for 2008; excluding unusual items, earnings per diluted share were $2.38 for 2009 and $2.62 for 2008.

Orders booked in 2009’s fourth quarter totaled $1.37 billion, up from the $1.17 billion of a year ago and up sequentially from the third quarter, as gains in Drilling & Production Systems and Valves & Measurement more than offset slight declines in Compression Systems. More…