Oil services company Halliburton has said third-quarter net profit rose 19 per cent.
Halliburton reported a net profit of $727 million, or 79 cents a share, compared with $611 million, or 58 cents a share, in the same quarter a year earlier.
Results for the 2007 third quarter include a favourable income tax impact of $133 million, or 15 cents per share, and a charge of $21 million for reserves related to environmental matters.
Consolidated revenue in the quarter climbed 16 per cent from a year ago to $3.9 billion.
As a result of the company's efforts to increase its business in the Eastern Hemisphere, revenue grew 29 per cent, operating income gained 40 per cent and margins increased to 24 per cent.
Looking ahead, Halliburton said that is still experiencing strong demand for its services in US land-based markets.
Halliburton's revenue rose 6 percent to $1.847 billion in North America, while operating income fell 13 per cent to $497 million, hit by the evacuations in the Gulf of Mexico and pricing declines in US land markets.
In the Middle East and Asia, Halliburton's revenue rose to 28 per cent to $693 million, and operating income was $182 million, up 31 per cent from a year ago.
Halliburton also said it repurchased 11 million of its shares in the third quarter for a total cost of about $374 million.