Earlier today, oilfield service company National-Oilwell Varco (NOV) reported better-than-expected third quarter results, helped by robust performance from its Rig Technology segment. Earnings per share, excluding transaction and restructuring charges, came in at 95 cents, well above the Zacks Consensus Estimate of 79 cents.   However, compared to the corresponding quarter of last year, National-Oilwell Varco’s earnings per share was down more than 34% (from $1.44 to 95 cents), while revenues declined 14.5% to $3.1 billion. The year-over-year negative comparison was due to pricing and sales pressure, in tandem with lower international rig counts.   Rig Technology Segment   Revenue in the Rig Technology segment increased nearly 4% year over year to $2 billion. Of this, revenues out of backlog were $1.6 billion, up 17% year over year. The segment’s operating profit was up 15.6% year over year to $579 million, while operating margin stood at a record ...

National Oilwell Varco (NOV) reported better-than-expected second quarter 2009 earnings. Recurring earnings were $0.90 per share, above our expectations of $0.85 and market expectations of $0.87 per share. National Oilwell Varco beat estimates as its rig technology business held steady despite a downturn in the oil service business. The earnings were negatively impacted by one-time charges of $0.37 per share. Accounting for these charges, net earnings were $0.53 per share. Segmental discussion Revenue in the Rig Technology segment slightly increased year-over-year to $1.92 billion. Of this, revenue out of backlog was $1.43 billion, up 7% year-over-year. The segment’s operating profit was up 6% year-over-year to $536 million, and operating margin stood at a record high of 28%. Following the merger, Grant Prideco’s operations have been included in the company’s existing Petroleum Services and Supply segment. On an adjusted combined basis for the merger for ...

Conn’s Inc. is a specialty retailer with headquarters in Beaumont, Texas. As part of the Electronic Stores business sector, they trade on NASDAQ. Their current market capitalization is $368.06M. The company has a rich history being in business for over 110 years.

Conn’s began in 1890 as a small plumbing company, selling products for the trade. They were a one-store organization until the 1960s when they branched out into a multi-store operation. By 1994, they were a $100M dollar company. Total revenues for the quarter ended April 30, 2008 alone were $218.6M.

The company’s product lines consist of consumer electronics, which are approximately 31 percent of their business. They also sell major home appliances, which account for 28 percent of their business. These electronics include plasma and LCD flat-panel televisions, DVD players, camcorders, and digital cameras.

Conn’s sells computers, video gaming, and other small electronics, which account for 12 percent of their revenues.

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