Cameron International Corp. (CAM, Financial) filed Quarterly Report for the period ended 2010-03-31.
Cameron International Corp. has a market cap of $9.65 billion; its shares were traded at around $39.46 with a P/E ratio of 17.7 and P/S ratio of 1.85. Cameron International Corp. had an annual average earning growth of 22.8% over the past 10 years.CAM is in the portfolios of Sarah Ketterer of CAUSEWAY CAPITAL MANAGEMENT LLC, Steven Cohen of SAC Capital Advisors, RS Investment Management, Jeremy Grantham of GMO LLC.
Selling and administrative expenses increased $32.1 million, or 19.5%, during the three months ended March 31, 2010 as compared to the three months ended March 31, 2009, due mainly to an increase of approximately $25.0 of incremental costs added from newly acquired businesses.
During the first quarter of 2010, the Company incurred $7.5 million of employee severance and other facility-related costs associated with restructuring of the Company s operations in response to changes in market conditions, as well as $2.8 million of costs incurred for an acquisition completed during the quarter and other costs related to the integration of NATCO s operations with the existing operations of the Company.
The $12.4 million decrease in the loss before income taxes of the Corporate segment during the first quarter of 2010 as compared to the first quarter of 2009 (see Note 10) was primarily due to a $12.0 million decline in restructuring and acquisition-related costs, which is described in additional detail above under the caption “Consolidated Results”.
During the first quarter of 2010, net cash used for operations totaled $115.8 million, a decrease of $12.5 million from the $128.3 million of cash used for operations during the first quarter of 2009, due to:
The $7.4 million increase in cash used for investing activities from $47.4 million during the first quarter of 2009 to $54.8 million during the first quarter of 2010 was due mainly to the acquisition of a partial interest in a business in the first quarter of 2010 that required approximately $27.9 million of cash, partially offset by lower capital spending totaling $19.1 million during the quarter ended March 31, 2010.
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Cameron International Corp. has a market cap of $9.65 billion; its shares were traded at around $39.46 with a P/E ratio of 17.7 and P/S ratio of 1.85. Cameron International Corp. had an annual average earning growth of 22.8% over the past 10 years.CAM is in the portfolios of Sarah Ketterer of CAUSEWAY CAPITAL MANAGEMENT LLC, Steven Cohen of SAC Capital Advisors, RS Investment Management, Jeremy Grantham of GMO LLC.
Highlight of Business Operations:
Total revenues for the Company increased by $89.7 million, or 7.1%, during the three months ended March 31, 2010 as compared to the three months ended March 31, 2009. A 17% increase in DPS segment revenues, due largely to $104.3 million of incremental revenues mainly associated with the acquisition of NATCO Group Inc. (NATCO) in November 2009 and higher sales of drilling and subsea equipment, more than offset declines in the V&M and CS segment revenues in the first quarter of 2010 as compared to the first quarter of 2009. Newly acquired businesses also accounted for approximately $25.6 million of incremental revenues in the V&M segment. The decline in V&M and CS segment revenues, excluding newly acquired businesses, was driven largely by lower beginning backlog levels in 2010 as compared to 2009 in all product lines.Selling and administrative expenses increased $32.1 million, or 19.5%, during the three months ended March 31, 2010 as compared to the three months ended March 31, 2009, due mainly to an increase of approximately $25.0 of incremental costs added from newly acquired businesses.
During the first quarter of 2010, the Company incurred $7.5 million of employee severance and other facility-related costs associated with restructuring of the Company s operations in response to changes in market conditions, as well as $2.8 million of costs incurred for an acquisition completed during the quarter and other costs related to the integration of NATCO s operations with the existing operations of the Company.
The $12.4 million decrease in the loss before income taxes of the Corporate segment during the first quarter of 2010 as compared to the first quarter of 2009 (see Note 10) was primarily due to a $12.0 million decline in restructuring and acquisition-related costs, which is described in additional detail above under the caption “Consolidated Results”.
During the first quarter of 2010, net cash used for operations totaled $115.8 million, a decrease of $12.5 million from the $128.3 million of cash used for operations during the first quarter of 2009, due to:
The $7.4 million increase in cash used for investing activities from $47.4 million during the first quarter of 2009 to $54.8 million during the first quarter of 2010 was due mainly to the acquisition of a partial interest in a business in the first quarter of 2010 that required approximately $27.9 million of cash, partially offset by lower capital spending totaling $19.1 million during the quarter ended March 31, 2010.
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