Smith International Inc.’s net income was $481,000...
Smith International Inc.’s net income was $481,000 for the first quarter, compared to $12 million for the same period a year ago. The Irvine-based drilling tools and products manufacturer said an accounting change heavily contributed to the first-quarter 1987 income figures. Revenue for the first quarter of 1988 was $77.6 million, up from $56 million for the same quarter a year ago, reflecting improved domestic and international drilling activity, the company said.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
