Halliburton, the second largest oilfield services company, said today third-quarter earnings fell 38 per cent but revenue rose, largely because of government work it is doing in the Middle East and elsewhere.
The Houston-based company, which has drawn much attention for US government contracts supporting the military occupation of Iraq, reported net income of $58 million compared with net income of $94 million last year.
Earnings for the most recent quarter included a loss from discontinued operations.
The former employer of US Vice President Mr Dick Cheney reported revenues rose 39 per cent to $4.1 billion, boosted mainly by work its KBR engineering and construction group is doing for the US government in the Middle East and elsewhere.
The company - which said it expects "little" change in oilfield activity in the fourth quarter - forecast fourth-quarter earnings per share from continuing operations of at least 30 cents a share, excluding any impact from a proposed asbestos settlement.