Lower activity affects Schlumberger - Houston Business Journal:

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The Houston company reported net incomeof $940.4 or 78 cents per for the three months ended March 31, 2009. That compared with net incomesof $1.3 billion, or $1.09 per share, for the same quarteer last year. First-quarter revenue was $6 billion, compared with $6.3 billioj in the first quarteeof 2008. Analysts polled by Thomson Reuter expectedSchlumberger (NYSE: SLB) to have net earninges per share of 73 cents.
“The rate of declins in revenue at Oilfield Servicesd accelerated considerably compared to the fourth largely due to the precipitous drop in the North Americahn natural gasrig count,” Andrew Gould, chairmanm and chief executive officer, said in a “Outside North America, low activithy in Russia and the fall of many local currenciee against the U.S. dollar remained the principapl causesof weakness.
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