By Houston Business Journal

Shares of Halliburton Co. fell as much as 7.8 percent in trading Monday despite beating analyst expectations.

Shares trading on the New York Stock Exchange closed at $34.48, down from the Oct. 14 close of $37.43.

Halliburton (NYSE: HAL) typically kicks off third-quarter results for oilfield services companies. It had a 25.5 percent increase in net income despite a one-time charge.

The Houston-based company reported net income of $683 million, or 74 cents per share, for the three months ended Sept. 30. That compared with $544 million. or 60 cents per share, for the same period last year.

Revenue was $6.5 billion for the 2011 quarter, up from $4.7 billion last year.

The one-time charge of $163 million was related to a settlement for its former subsidiary, KBR Inc.

Without the charge, Halliburton would have had earnings of 94 cents per share, over the 92 cents per share expected by a Thomson Reuters poll of analysts.

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