Cameron Q4 Profit Falls

(RTTNews) - Cameron International Corp. (CAM) Thursday announced a sharp decline in fourth quarter net income attributable to the company to $125 million from $254 million last year. On a per share basis, earnings declined to $0.65 from $1.28 per share last year.

On average, 27 analysts polled by Thomson Reuters expected the company to earn $0.73 per share. Analysts estimates usually excludes special items.

Revenue for the quarter declined to $2.079 billion from $2.804 billion in the previous year. Wall Street expected $2.02 billion.

Looking ahead, Scott Rowe, president and chief executive officer said, "Although declines in energy prices will have a negative impact on our business in 2016, we remain focused on the factors that will drive our fundamental long-term performance: execution, customer relationships, cost reduction and technology."