By Paul Ausick of 24/7 Wall St.
Halliburton (HAL) reported fourth-quarter 2009 net income of $243 million (EPS of $0.27), down 48% from $468 million (EPS of $0.87) in the same period a year ago. The company’s results excluded a one-time charge of $10 million. Analysts’ estimates had an average EPS of $0.27.
Revenue for the quarter totaled $3.7 billion, down nearly 25% from fourth quarter 2008 revenue of $4.9 billion. On Friday, competitor Schlumberger (SLB) announced fourth-quarter revenue of $5.7 billion, down 16% from the year ago quarter total of $6.7 billion.
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