SAN FRANCISCO, Feb 8 (Reuters) - BJ Services Co posted an unexpected quarterly loss as revenue fell 34 percent, but reported generally stable to slightly improved pricing in North America for its key oilfield pressure-pumping operation.
The company is in the process of being taken over by Baker Hughes Inc, which still expects to close the $6 billion deal this quarter.
For its fiscal first quarter ending in December, Houston-based BJ Services reported a loss from continuing operations of $8.4 million, or 3 cents per share, as revenue fell 34 percent to $931.5 million.
Analysts on average had been looking for a profit of 4 cents per share on revenue of $898 million, according to Thomson Reuters I/B/E/S.
The takeover of BJ Services will mark a return to its previous owner. Founded by Byron Jackson in California in the 1870s, BJ ended up as part of Baker Hughes through a series of deals a century later, before being spun out in 1990.
(Reporting by Braden Reddall; Editing by Gary Hill) Keywords: BJSERVICES/ (braden.reddall@thomsonreuters.com; +1 415 677 2543; braden.reddall.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The company is in the process of being taken over by Baker Hughes Inc, which still expects to close the $6 billion deal this quarter.
For its fiscal first quarter ending in December, Houston-based BJ Services reported a loss from continuing operations of $8.4 million, or 3 cents per share, as revenue fell 34 percent to $931.5 million.
Analysts on average had been looking for a profit of 4 cents per share on revenue of $898 million, according to Thomson Reuters I/B/E/S.
The takeover of BJ Services will mark a return to its previous owner. Founded by Byron Jackson in California in the 1870s, BJ ended up as part of Baker Hughes through a series of deals a century later, before being spun out in 1990.
(Reporting by Braden Reddall; Editing by Gary Hill) Keywords: BJSERVICES/ (braden.reddall@thomsonreuters.com; +1 415 677 2543; braden.reddall.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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