Smith International Inc.: The Houston-based firm, the...
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Smith International Inc.: The Houston-based firm, the world’s largest petroleum drilling tool and service company, reported second-quarter net income of $340,000, down 70% from the year-ago period. Revenue fell 9% to $74.6 million. The results were attributed to a continued decline in North America drilling activity and an unexpected softening in international rig activity, the company said.
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