National Oilwell Varco Q2 Profit Rises - Quick Facts

(RTTNews) - Oilfield services company National Oilwell Varco, Inc. (NOV) Tuesday reported second-quarter net income attributable to the company of $619 million or $1.44 per share, up from $531 million or $1.24 per share in the prior year.

Income from continuing operations was $1.42 per share, compared to $1.15 per share a year earlier.

Excluding items, operating, or non-GAAP earnings per share for the second quarter of 2014 were $1.61 per share, while the company posted $1.39 per share a year ago.

On average, 25 analysts polled by Thomson Reuters expected the company to earn $1.44 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue climbed 12 percent to $5.26 billion from $4.68 billion in the same quarter last year. Analysts estimated revenues of $5.49 billion for the quarter.

Clay Williams, chairman, president and CEO of the company stated, "As we move through the second half of 2014, we look forward to continued demand for our drilling, completion and production equipment, and continued strong results from our four new segments."