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Halliburton Announces Fourth Quarter Income From Continuing Operations Of $0.93 Per Diluted Share, Excluding Restructuring Charges

Halliburton (NYSE:HAL) announced today that income from continuing operations for the fourth quarter of 2013 was $798 million, or $0.93 per diluted share, excluding restructuring charges of $28 million, after-tax, or $0.03 per diluted share. This compares to income from continuing operations for the third quarter of 2013 of $745 million, or $0.83 per diluted share, excluding restructuring charges of $38 million, after-tax, or $0.04 per diluted share.

Reported income from continuing operations for the fourth quarter of 2013 was $770 million, or $0.90 per diluted share. Reported income from continuing operations for the third quarter of 2013 was $707 million, or $0.79 per diluted share.

Halliburton's total revenue in the fourth quarter of 2013 was $7.6 billion, compared to $7.5 billion in the third quarter of 2013. Adjusted operating income was $1.2 billion and reported operating income was $1.1 billion in both the fourth and third quarters of 2013.

Halliburton's total revenue was $29.4 billion for the full year 2013, an increase of $899 million, or 3%, from 2012. Total operating income decreased $1.0 billion, or 25%, from 2012 mainly due to a substantial charge for an estimated loss contingency related to the Macondo well incident and the impact of pricing pressures in North America.

Adjusted income from continuing operations for the full year 2013 was $2.8 billion, or $3.15 per diluted share. This compares to adjusted income from continuing operations for the full year 2012 of $2.8 billion, or $3.00 per diluted share. Reported income from continuing operations for the full year 2013 was $2.1 billion, or $2.33 per diluted share, compared to $2.6 billion, or $2.78 per diluted share, for the full year 2012.

“I am very pleased that Halliburton delivered record annual revenues in 2013,” commented Dave Lesar, chairman, president and chief executive officer.

“In 2013, we set revenue records in every international region and in both divisions. From an operating income perspective, we achieved record operating income in our Middle East/Asia region as well as six of our 13 product lines.

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