Smith International, Inc.
Stock Symbol: SII
PO Box 60068
Smith International, Inc. Industry:
Oil Well Services & Equipment
Smith International, Inc. Description:
In 1902, Herman C. Smith established a blacksmith shop in the small town of Whittier, California. That same year, oil was discovered in the area, and oilmen soon began bringing their crude fishtail bits to Smith's shop for sharpening. Listening to the drillers' concerns and problems, Smith began modifying and improving their oil tools and developing new ones.From that modest beginning, and with a great sensitivity to its customers' needs, the local blacksmith shop grew to become a major supplier of products and services to the world's oil and gas industry.
Smith International, Inc. Financial Summary:
SII supplies products and services to the oil and gas drilling and production industry. The Company provides drilling fluids and systems, drill bits and drilling and completion products and services. For the 6 months ended 6/30/05, revenues rose 27% to $2.64B. Net income increased 86% to $134.2M. Revenues reflect an increase in demand for Oilfield segment product offerings. Net income reflects improved fixed costs coverage.
Smith International, Inc. Business Summary:
Smith International, Inc. is a supplier of products and services to the oil and gas exploration and production industry, the petrochemical industry and other industrial markets. The Company operates through its four business units: M-I SWACO, Smith Technologies, Smith Services and Wilson. M-I SWACO provides drilling and completion fluid systems and services, solids-control and separation equipment, waste-management services and oilfield production chemicals, while Smith Technologies manufactures and sells three-cone drill bits, diamond drill bits and turbine products. Smith Services manufactures and markets products and services used for drilling, workover, well completion and well re-entry operations. The Wilson unit markets pipe, valves and fittings, as well as mill, safety and other maintenance products to energy and industrial markets.