Helmerich & Payne Earnings Up

Helmerich & Payne, Inc. has reported record net income of $125.3 million from operating revenues of $522.5 million for its third fiscal quarter ended June 30, 2008, compared with net income of $115.2 million from operating revenues of $421.4 million during last year’s third fiscal quarter.
Included in this year’s third quarter’s net income are $0.09 per share of after-tax gains from the sale of portfolio securities and $0.04 per share from the sale of drilling equipment and insurance settlements, as well as a charge equivalent to $0.07 per share from the in-process research and development write-off corresponding to the previously announced acquisition of TerraVici Drilling Solutions.
Included in third quarter net income for 2007 were gains of $0.15 per share from the sale of portfolio securities and $0.06 per share from the sale of drilling equipment and insurance settlements.
For the nine months ended June 30, 2008, the company reported net income of $335.2 million from operating revenues of $1.45 billion compared with net income of $332.8 million from operating revenues of $1.18 billion during the nine months ended June 30, 2007.



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