Halliburton Posts 1st Loss in 66-Year History
Dallas-based Halliburton reported a net loss of $474.8 million for the second quarter ended June 30 because of non-recurring after-tax charges totaling $523 million--the first loss in the company’s 66-year history.
The charges included $195 million for a write-down of marine construction vessels and related investments and $328 million for the anticipated settlement of litigation relating to a Texas nuclear project.
Excluding these charges, net income for the quarter totaled $48.2 million, down 48% from the previous year’s quarter.
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