Baker Hughes (BHI) Posts Q1 adj.-Loss of 7c/Share

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Baker Hughes Announces First Quarter Results

April 21, 2015 8:02 AM EDT

HOUSTON, April 21, 2015 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) announced today results for the first quarter of 2015.

Martin Craighead, Baker Hughes Chairman and Chief Executive Officer commented, "Our first quarter results are a reflection of the extreme market forces faced by our industry since late December. Consistent with past downturns, many of our customers have curtailed or canceled projects. The reduction in activity can clearly be seen in the North America rig count, which has been cut in half, dropping by more than 1,000 rigs so far this year. Similarly, international... More