Smith International, Inc. is a public company that has had its shares traded on the New York Stock Exchange since 1968. It is a diversified oilfield service company based in Houston, Texas. The Company is one of the largest global providers of premium products and services used by operators during the drilling, completion and production phases of oil and natural gas exploration and development activities. Smith employs more than 21,000 full-time personnel and operates through three business divisions – M-I SWACO, Smith Oilfield and Distribution. Our common stock is traded on several market exchanges, including the New York Stock Exchange, under the symbol ‘SII’.
The Company provides a comprehensive line of technologically advanced products and engineering services, including drilling and completion fluid systems, solids-control and separation equipment, waste-management services, three-cone and diamond drill bits, borehole enlargement services, directional systems, measurement-while-drilling and logging-while-drilling services, drilling optimization services, drill pipe and premium tubulars, downhole drilling tools and other key product offerings. Additionally, we supply a broad range of products and services used to complete and produce wells, including oilfield production chemicals, packers and liner hangers, coiled tubing services, cased-hole wireline services and other related offerings. The company also provides supply-chain management solutions through an extensive North American branch network that offers pipe, valves and fittings as well as mill, safety and other maintenance products.
Financial Highlights
| Twelve Months Ended December 31st | 2009 | 2008 |
| (In thousands) | ||
| Summary Statement of Operations Data: | ||
| Revenues | $8,218,559 | $10,770,838 |
| Operating Income (as reported) | $599,083 | $1,642,412 |
| Net Income (as reported) | $148,469 | $767,284 |
| Summary Balance Sheet Data: | ||
| Current Assets | $4,815,236 | $5,086,384 |
| Total Assets | $10,739,415 | $10,816,224 |
| Current Liabilities | $1,410,789 | $2,933,432 |
| Total Debt | $2,173,022 | $2,806,821 |
| Stockholders' Equity | $6,829,930 | $5,860,309 |
| Other Data: | ||
| Depreciation and Amortization | $364,858 | $263,443 |
| Capital Expenditures, Net | $294,099 | $369,774 |
| Cash Dividends Paid | $105,234 | $94,557 |
(a) Data for twelve months period ended December 31, 2009
(b) Excludes revenue from the Distribution segment operations
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