Posted on 01/27/2006 7:26:28 AM PST by new yorker 77
After three years of losing money, Halliburton reported a hefty profit for 2005 and announced that all six of its divisions posted record results.
"The year 2005 was the best in our 86-year history," Dave Lesar, Halliburton's chairman, said Thursday.
The company posted a year-end profit of $2.4 billion, or $4.54 per share, on revenue of $21 billion. That compares with a $1 billion loss in 2004 when Halliburton finally settled scores of asbestos and silica lawsuits.
For the fourth quarter, Halliburton booked a profit of $1.1 billion on revenue of $5.8 billion.
Lesar attributed the fourth-quarter comeback primarily to the Energy Services Group, which has been able to charge more for its business. The group now has an operating margin of 24 percent, up 2 percent from the third quarter.
Halliburton, which has 100,000 employees, is better known for its high-profile and often controversial KBR subsidiary, which is a major government contractor that builds and operates bases for the U.S. military and is heavily entrenched in Iraq.
Earlier in the week, the Department of Homeland Security's Immigration and Customs Enforcement awarded Halliburton a new contract valued at up to $385 million over five years.
The contract calls for KBR to build and operate new detention facilities in case of an "emergency influx of immigrants" into the country.
Halliburton announced its year-end profit late Thursday after its stock closed at $75.15. The stock price has doubled in the past year.
Earlier on Thursday, Lesar sold off 75,000 shares, netting $2.6 million, according to filings with the Securities and Exchange Commission.
A Halliburton spokeswoman said Lesar was exercising stock options that were about to expire. In the past 10 months, Lesar has sold 63 percent of his Halliburton shares.
ljcook@chron.com
David Ivanovich contributed to this report.
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HoustonChronicle.com -- http://www.HoustonChronicle.com | Section: Energy This article is: http://www.chron.com/disp/story.mpl/headline/biz/3616046.html
Why couldn't the money go toward building OBSTRUCTION facilities to prevent illegal immigrants from coming into the USA the Wrong Way???
"Why couldn't the money go toward building OBSTRUCTION facilities to prevent illegal immigrants from coming into the USA the Wrong Way???"
Because to compete with China we need people willing to work for $2.00 a day. Where else will we get them?!
because Rove favors illegal immigration for political purposes. So does everyone else in DC.
A Halliburton HOO-YAH!!
Great. Now get read for another 4 years of your liberal co-workers and associates whining "Halliburton, Halliburton, Halliburton" every five minutes.
Excellent :)
Please forgive me if my first comment seemed like an attack on them [I didn't mean it that way]
I honestly do believe that Halliburton has done many great & helpful things for our Armed Forces in this day & age.
I just felt that building illegal immigrant detention facilities is a Band-Aid on an amputation.
[although I do believe that the bandages are starting to get bigger, if you know what I mean]
The numbers mean NOTHING. What is the profit margin %?
(JFK Sings:)Yeah, down by the river
Down by the banks of the river Charles (aw, that's what's happenin' baby)
That's where you'll find me
Along with lovers, fuggers, and thieves (aw, but they're cool people)
Well I love that dirty water
Oh, Boston, you're my home (oh, you're the Number One place)
(Teddy:)Frustrated women (I mean they're frustrated)
Have to be in by twelve o'clock (oh, that's a shame)
But I'm wishin' and a-hopin, oh
That just once those doors weren't locked (I like to save time for
my baby to walk around)
(In Unison)Well, I love that dirty water
Oh, Boston, you're my home (oh, yeah)
Because I love that dirty water
Oh, oh, Boston, you're my home (oh, yeah)
Well, I love that dirty water (I love it, baby)
I love that dirty water (I love Baw-stun)
I love that dirty water (Have you heard about the Strangler?)
I love that dirty water (I'm the man, I'm the man)
I love that dirty water (Owww!)
I love that dirty water (Come on, come on) [fade]
Link to Halliburton credits: http://abcnews.go.com/International/IraqCoverage/story?id=1533349
Well, I don't have numbers but I can tell you that we bought Halliburton stock a short time ago (a year, maybe 18 months ago) as an election era protest against the libs. The value of our shares have increased 2 1/2 times. I love Halliburton!
micheal moore's stock portfolio is very happy.
michale moore's stomach is also happy knowing more calories are on the way.
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