BJ Services Swings to a Loss Monday, November 23, 10:46 AM ET
BJ Services (NYSE:BJS) posted a fourth quarter loss of $9.95 million, or 3 cents per share, as compared to net income of $168 million, or 57 cents per share, in the same quarter last year.
The company said its operating loss totaled a penny per share.
Revenue dipped 42 percent to $878.2 million.
BJ Services said that while near-terms market conditions are still challenging, they see reason for optimism on the horizon.
The company is due to merge with Baker Hughes (NYSE:BHI) in the first calendar quarter of 2010.
BJ Services shares trading up almost two and a half percent Wednesday morning.
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