NEW YORK, September 18, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on Cameron International Corporation (NYSE: CAM). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/reports?keyword=CAM
Highlights from our CAM Report include:
- Second quarter and First half results - On July 23, 2015, Cameron International Corporation announced its financial results for the second quarter and first half of fiscal 2015. For the second quarter, the Company reported revenues of $2,222 million with the corresponding figure in Q2 FY14 being $2,570 million. Cameron's net income attributable to its shareholders for Q2 FY15 came in at $140 million or $0.73 per diluted share versus net income attributable to its shareholders of $221 million or $1.08 per diluted share in the corresponding prior year period. For the first half of the year, the Company reported revenues amounting to $4,495 million vis-a-vis $4,899 million reported in the previous year first half. During H1 FY15 net income attributable to Cameron stockholders stood at $189 million or $0.98 per diluted share as compared to $332 million or $1.57 per diluted share reported in the corresponding prior year period.
- Segment performance - Cameron's Subsea segment generated revenues of $658 million for the quarter as against $735 million reported in Q2 FY14. Surface and Drilling segments generated revenues amounting to $510 million and $719 million respectively vis-a-vis previous year Q2 reported figures of $613 million and $766 million, respectively. Furthermore, Valves and Measurement (V&M) segment reported revenues of $381 million for the quarter versus previous year reported revenue of $539 million.
- Order Update - As per the release, the Company's consolidated orders increased 15% QoQ to $1.91 billion, reflecting the breadth and competitive differentiation of Cameron's portfolio of businesses. The Company added that on sequential basis, its Subsea segment reported 32% increase in orders followed by 23% growth in Drilling segment and 5% in Surface segment. Meanwhile, its consolidated backlog at the end of June 30, 2015, stood at $8.4 billion compared with $9.5 billion as at December 31, 2014.
- Management Speak - Jack B. Moore, the Chairman and CEO of the Company said that the Company reported solid earnings and orders despite challenging market conditions. He added that the results reflected outstanding execution across the enterprise when compared to the year ago quarter, driven by the Company's Subsea and Drilling segments and a 16% decline in its SG&A expense.
To find out how this influences our rating on Cameron International Corporation read the full report in its entirety here: http://www.aciassociation.com/reports?keyword=CAM
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