Cameron's Order Backlog Sets Record
Thursday, April 26, 2012
Cameron has reported a record order backlog of US$6.8 billion at the end of the first quarter, up from the Dec. 31, 2011 level of US$6.0 billion and from US$4.9 billion a year ago.
“This represents sequential as well as year-over-year backlog increases for all of our major business segments. It represents 38% growth from a year ago,” said Cameron chairman, president and CEO Jack B. Moore.
Orders for the quarter ending on March 31 were US$2.6 billion, up from US$1.5 billion in the first quarter of 2011 and US$1.9 billion in the fourth quarter of 2011. These numbers represent increases of nearly 70% and 35%, respectively.
Net income for the first quarter was US$134 million, up from US$109.5 million for the comparable period of 2011. Revenues were US$1.8 billion, up 20% from US$1.5 billion a year ago. Moore said the year-over-year revenue increase was due to gains in the drilling and production systems and valves and measurement divisions.
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