SOURCE: Industrial Info Resources

Industrial Info Resources

January 26, 2010 05:00 ET

Halliburton Posts Fourth-Quarter, Fiscal Year 2009 Losses, but Sees Hope in North America in 2010, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - January 26, 2010) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Oil and gas industry provider Halliburton Company (NYSE:HAL) (Houston, Texas) reported earnings for fourth-quarter and fiscal year 2009, with net income down 48.1% year-over-year to $243 million for the quarter, and down 48.5% year-over-year to $1.15 billion for the fiscal year. Dave Lesar, the chairman, president, and chief executive officer of Halliburton, attributed the drop in revenue for the year to pricing declines and lower demand in North America, as well as a slowdown in natural gas drilling in Mexico in the last quarter. Industrial Info is tracking more than $75 million in projects involving Halliburton in the U.S., including a $12 million grassroot oil and gas field drilling and services plant in Muncy, Pennsylvania, that kicked off in January.

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