Baker Hughes Announces First Quarter Results

Baker Hughes Incorporated (NYSE:BHI) reports a net income for the first quarter of 2011 of $381 million or $0.87 per diluted share.

The press release is quoted as saying,

Chad C. Deaton, Baker Hughes chairman and chief executive officer, said, “International margins continued to improve in the first quarter, despite weather and geopolitical disruptions, as we made steady progress towards our goal of exiting 2011 with international operating margins in the mid-teens. The foundation of our improvement plan has been managing costs and improving efficiency, which have driven the increase in profitability we have seen to date.  As we move towards the second half of 2011, activity growth becomes a more important driver of future improvement.

For the complete press release, click here.