Cameron Takes Profit Dive

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Cameron has reported net income attributable to its stockholders of $125 million for the fourth quarter 2015, down from $254 million in the corresponding period in 2014.

The company posted fully diluted earnings per share, excluding discontinued operations and other costs, of $1.08 for the fourth quarter of 2015, compared to $1.34 for the same period of 2014.

Other costs in the fourth quarter of 2015 amounted to $115 million on a pretax basis, or $0.43 per share, primarily related to asset charges and severance, as detailed in an accompanying table.

On a GAAP basis, the company’s fully diluted earnings per share for the fourth quarter of 2015 were $0.65, as compared to $1.28 for the same period of 2014.

For the full year 2015, the company reported fully diluted earnings per share, excluding discontinued operations and other costs, of $4.00, compared to $4.14 for 2014. On a GAAP basis, the company’s 2015 fully diluted earnings per share were $2.60, as compared to $3.96 for 2014.

Revenue for the quarter fell 25.7% to $2.08 billion. This was down from $2.80 billion last year. Full-year revenue declined some $1.6 billion YOY.

 

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