Schlumberger’s net income for the fourth quarter was $177m, up from a loss of $2.86bn in the previous year’s quarter, on revenue that grew 10.7% to $3.7bn.
For the full year, net income was $383m, up from a loss of $2.3bn, on revenue that grew 6% to $14bn. Schlumberger’s cash position increased 79% to $3.1bn over the year, while its net debt narrowed almost 17% to $4.2bn.
The company also said that following the Atos Origin shareholder meeting held on January 22, 2004, the closing of the sale of the majority of its Sema assets is expected at the end of January.
The deal will consist of 400m euros ($502m) in cash and a fixed number of 19.3 million of Atos Origin common shares, representing approximately 29% of common shares. Subsequent to closing, Schlumberger expects to reduce its ownership in Atos Origin to 19%.
This article is based on material originally published by ComputerWire
