Halliburton ESG posts record quarter

Getech placement and Qx results from SGI, Kelman, I/O, CMG, AspenTech and MRO Software.

Halliburton’s Energy Services Group (ESG) posted record revenue of $2.6 billion in the third quarter of 2005, a $489 million or 23% increase over the third quarter of 2004. ESG also posted record operating income of $566 million, up $152 million or 37% from the same period in the prior year.

An IPO brought UK-based potential field specialists Getech £3.2, valuing the company at £10.8 million.

Reporting on a $26 million operating loss for Q1 2006, SGI CEO Bob Bishop said, ‘We achieved several important goals in the first quarter. We grew revenue from core products year over year, exceeded our margin targets, secured new financing and are on-track with our restructuring plans.’ SGI completed a $100 million ‘asset based credit facility’ from Wells Fargo Foothill and Ableco Finance.

Kelman Technologies announced a $47 thousand net loss for Q3 2005 over Q3 2004. Canadian and US seismic processing showed significant improvement while the international and data divisions lagged.

Input/Output reported Q3 2005 net income of $1.4 million, on revenues of $82.7 compared to a net loss of $5.0 million on revenues of $80.9 million for the same period a year ago. I/O CEO Bob Peebler said, ‘The gradual improvement we anticipated throughout the year remains on track and will continue into Q3 despite the challenges that hurricanes Katrina and Rita presented to our operations.’

Computer Modelling Group’s (CMG) second quarter results for its 2006 fiscal year showed revenues of $3.8 million (CDN) up from $3.1 million fro the same period last year. CMG president Ken Dedeluk said, ‘Underlying factors supporting increased demand for reservoir simulation exist and we are positioned for future growth opportunities.’

Aspen Technology’s Q1 2006 saw total revenue of $60.1 million (40% from software). CEO Mark Fusco said, ‘In the past three quarters, we have improved our services margins, eliminated our convertible debt, and created an infrastructure that can deliver improved performance over the long-term.’

MRO Software reported record Q4 2005 revenues at $55.4 million, up 11% percent, with software license revenues of $20.9 million. Forth quarter clients include BP Oil, CNOOC, Kuwait Drilling Company, and the US Department of Energy.

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