Halliburton, Under Scrutiny, Posts Loss (yet 80% revenue gain on year)

http://story.news.yahoo.com/news?tmpl=story&cid=568&ncid=749&e=8&u=/nm/20040428/bs_nm/energy_halliburton_earns_dc

HOUSTON (Reuters) - Halliburton Co. (NYSE:HAL - news), under scrutiny for its billing for work in Iraq (news - web sites), on Wednesday posted a quarterly loss, reversing a year-ago profit as charges for a proposed asbestos and silica settlement continued to weigh.

The world's second-largest oilfield services company posted a net loss of $65 million, or 15 cents a share, in the first quarter, compared with net income of $43 million, or 10 cents a share, a year earlier.


-snip-
Revenue rose 80 percent to $5.52 billion, mostly because of the additional government services projects in the Middle East won by the company's KBR engineering and construction group, the largest contractor in Iraq.

Value in Iraq and Afghanistan
http://www.publicintegrity.org/wow/resources.aspx?act=total

Political contributions of mercenaries
http://www.publicintegrity.org/wow/resources.aspx?act=contrib

George W. Bush aka The War President employs these mercenaries with our tax money:grr:

Revenue goes up 80% and leads to a net loss. Now, tell me, what innovative successful company could be that screwed up? Are they being bankrupted on purpose?

Something's up here.

current flat contract revenues and lack of ability to increase prices for current services to end later in the year.

Nothing like telling the truth.

I guess they have a bit invested in getting Cheney back in office in the Nov 04 election, eh?

:-)

Cheney bought them a company with a huge asbestos liability. Then he sold out before the stock crashed. Now he's paying them back with his war and inflated oil prices, but it's going to take a little longer before they catch up on the bad deal he made for them.