Cameron International Q2 Profit Declines, But Results Beat View - Quick Facts

(RTTNews) - Cameron International Corp. (CAM) reported second-quarter net income attributable to stockholders of $140 million or $0.73 per share, down from $221 million or $1.08 per share in the prior year quarter.

Excluding charges, earnings per share for the quarter were $0.83, compared to $0.95 in the year-ago period.

On average, 31 analysts polled by Thomson Reuters expected the company to report earnings of $0.77 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter declined to $2.22 billion from $2.57 billion last year. Analysts expected revenue of $2.18 billion for the quarter.

Looking ahead, Chairman and CEO Jack Moore said, "Although the industry downturn continues to pose many challenges, we believe the pace of the decline in customer spending has begun to moderate. In this environment, we remain focused on the things we can control: the ongoing systemic reduction in our cost structure, execution, customer relationships and technology advancement."