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| Halliburton announces full year and fourth quarter earnings Halliburton announced that revenue was $15.3 billion for the full year 2007, an increase of 18% from the full year 2006, and operating income was $3.5 billion, an increase of 8% from the full year 2006. Income from continuing operations for the full year 2007 was $2.5 billion, or $2.66 per diluted share, compared to 2006 income from continuing operations of $2.2 billion, or $2.07 per diluted share. Halliburton's consolidated revenue in the fourth quarter of 2007 was $4.2 billion, up 19% from the fourth quarter of 2006. This increase was attributable to increased worldwide activity, particularly in the Eastern Hemisphere. Income from continuing operations in the fourth quarter of 2007 was $674 million, or $0.74 per diluted share, compared to $627 million, or $0.61 per diluted share, in the fourth quarter of 2006. The fourth quarter 2007 results were unfavorably impacted by a $22 million after-tax charge related to the impairment of an oil and gas property in Bangladesh, where the company has had an interest in a producing property since 1996, and $8 million of after-tax expenses associated with executive separation costs. Consolidated operating income was $907 million in the fourth quarter of 2007 compared to $923 million in the fourth quarter of 2006. Fourth quarter of 2007 operating income included a $34 million impairment charge for the Bangladesh oil and gas property and $12 million for executive separation costs. Operating income in the fourth quarter of 2006 included a $48 million gain on the sale of lift boats in West Africa and the North Sea and a $38 million gain related to insurance proceeds for business interruptions resulting from the 2005 Gulf of Mexico hurricanes. write your comments about the article :: © 2008 Construction News :: home page |