Baker Hughes Q3 Profit Increases - Quick Facts

(RTTNews) - Baker Hughes Inc. (BHI) reported that its net income attributable the company for the third quarter of 2014 rose to $375 million from last year's $341 million, with earnings per share improving to $0.86 from $0.77 in the same quarter last year.

Adjusted net income per share was $1.02 up from $0.81 in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.13 per share for the quarter. Analysts' estimates typically exclude special items.

Adjusted net income for the third quarter of 2014 excludes $14 million in before and after-tax charges ($0.03 per share) relating to the impairment of a technology investment and $58 million before and after-tax costs ($0.13 per share) associated with a restructuring of operations in North Africa, resulting primarily from recent disruptions in Libya.

Quarterly revenue grew to $6.25 billion from $5.79 billion in the same quarter last year. Wall Street expected revenues of $6.29 billion.