Strong rig technology business boosts National Oilwell revenue
Jan 31 (Reuters) - National Oilwell Varco Inc's fourth-quarter revenue rose 9 percent, buoyed by strong demand for its services that prepare oil and gas wells for production.
The largest U.S. oilfield equipment provider's revenue rose to $6.17 billion in the quarter ended Dec. 31, from $5.68 billion a year earlier.
Revenue from the rig technology business, the company's biggest division, rose 14 percent.
Net income slipped 1.5 percent to $658 million, or $1.53 per share in the fourth quarter.
Excluding $16 million in pre-tax transaction charges, the company earned $670 million, or $1.56 per share.