Halliburton Earnings Surge 7.7 Percent in 1Q

[NNN0LHI]

http://www.in-forum.com/ap/index.cfm?page=view&id=D8OTI3CG0&forumcomm_check_return

HOUSTON

KBR Inc., the former Halliburton Co. subsidiary, said Friday its net income rose 7.7 percent in the first quarter, lifted in part by business in Iraq.

The military contractor and engineering/construction outfit, which split from Halliburton last month, said earnings for the January-March period were $28 million, or 17 cents a share, up from $26 million, or 19 cents a share, a year ago. snip

Halliburton welcomed the separation too, which allows it to focus on its profitable oilfield services operations and distance itself from KBR's military support services in Iraq and elsewhere. Analysts have said KBR, with its lower profit margins, has been a drag on Halliburton earnings.

The two companies have been magnets for criticism because of KBR's more than $19 billion in Pentagon contracts to be the sole provider of food and shelter services to the military in Iraq and Afghanistan. Democrats in Congress have claimed KBR benefited from ties to Vice President Dick Cheney, who once led Halliburton.

[conspirator]

1. The "surge" is working n/t

[xchrom]

2. quelle surprise.