This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cameron International's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Our outlook for 2012 is very similar to that of 2011. Our customers' commitment to OEM is not backing off and we continue to see a healthy appetite for newbuild rigs given the high utilization rates our customers are seeing. Plus with the added benefits of Cameron having acquired LTI in Q4, we expect 2012 to be another record year for Drilling Systems. In fact, we've already booked several floater stacks in the current quarter.

LTI provided Cameron a wonderful platform to offer a broader scope of products and services to both onshore and offshore contractors, along with shipyards. But we have work to do. Under Cameron's management, we will provide the objective product development and sales placement that it lacked with the previous owners. We will focus on external opportunities that will allow us to close the technology and product gaps. We will improve the manufacturing processes and we'll improve lead times and margins. We will place a premium on servicing the existing install base to our global aftermarket footprint.

We've had tremendous support from our customers' employees for building out the Cameron Drilling Systems portfolio, and we're excited that this will move the needle for Cameron for many years to come.

In addition to the focus with integrating LTI in 2012, we will continue to advance the technologies that our customers will demand as we push drilling into deeper and higher pressure applications while staying focused on safe operations. We recently delivered the world's first 13.58 25,000 psi BOP system. We started last year, completion of the first ever 18.75 20,000 psi BOP system that is operating offshore today.

And finally, we will invest in additional $80 million in 2012, in our aftermarket infrastructures to support and sustain our customers' demand for OEM service. The highlight will be the opening of our new dedicated drilling aftermarket base in Singapore's Offshore Marine Centre later this year.

3 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,745.98 -5.41 -0.03%
S&P 500 2,108.63 +0.06 0.00%
NASDAQ 5,128.7850 +17.0520 0.33%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs