HOUSTON (dpa-AFX) - National Oilwell Varco Inc. (NOV) reported that its first quarter net income attributable to the company was $606 million, or $1.42 per share, up from $407 million or $0.96 per share in the year ago quarter.
The first quarter 2012 results included transaction costs totaling $7 million pre-tax, and, excluding these, earnings were $612 million, or $1.44 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $1.39 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter rose to $4.30 billion from $3.15 billion in the prior year quarter. Twenty analysts had consensus revenue estimate of $4.29 billion for the quarter.
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