Halliburton profit up, shares hit new high

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Halliburton Profit Rises (19% Over Quarter)

Halliburton profit rises, tops Street view
Mon Jul 23, 2007 8:32AM EDT
HOUSTON (Reuters) - Halliburton Co., (HAL.N: Quote, Profile, Research), the world's second-largest oil services company, said on Monday that second-quarter profit from continuing operations rose 19 percent, topping Wall Street views, helped by new international contracts.
Investors pushed shares of Halliburton up about 3.5 percent to $37.88 in pre-market trading.
Earnings from continuing operations climbed to $595 million, or 63 cents a diluted share, from $498 million, or 47 cents a share, a year earlier.
Also included in second-quarter 2007 opera

ting income was an after-tax gain of 3 cents a diluted share from the sale of an investment, Halliburton said. Excluding one-time items, analysts on average had expected the company, which was once headed by Vice President Dick Cheney, to report a profit of 56 cents a share, according to Reuters Estimates.
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Halliburton's 2Q Profits Double

Source: WIBW Kansas
HOUSTON - Halliburton Co. said Monday second-quarter net income more than doubled to $1.5 billion, lifted largely by a $933 million gain from the separation of its former subsidiary, KBR Inc.
Last week, Halliburton's larger competitor, Schlumberger Ltd., said its second-quarter profit jumped 47 percent because of an active world market for oil and gas, despite weakness in Canada.
Halliburton, once led by Vice President Dick Cheney, split from KBR, the military contractor and engineering company, in April. Halliburton has said the separation allows it to focus solely on providing expertise, services and equipment to companies working in the global oilfield.
Halliburton chairman and chief executive Dave Lesar said revenue rose 14 percent in the Eastern Hemisphere in the quarter, and income margins rose to nearly 22 percent.
The company announced in March it would split its corporate headquarters between Houston and Dubai, where Lesar will work, placing him nearer to important markets in the Middle East and Asia.
"Our commitment to invest in high-growth Eastern Hemisphere markets is evident in our results," Lesar said in a statement.
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