Schlumberger Limited Q1 2010 Earnings Call Transcript

Apr. 23, 2010 1:00 PM ETSchlumberger Limited (SLB)
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Schlumberger Limited (NYSE:SLB) Q1 2010 Earnings Call April 23, 2010 9:00 AM ET


Malcolm Theobald – VP IR

Simon Ayat – EVP & CFO

Andrew Gould - CEO


Dan Pickering - Tudor, Pickering, Holt

Mike Urban – Deutsche Bank

Kurt Hallead - RBC Capital Markets

Ole Slorer - Morgan Stanley

Bill Herbert - Simmons & Company

David Anderson – JPMorgan

Angie Sedita – UBS

Alan Laws - BMO Capital Markets

Geoff Kieburtz - Weeden & Co.

Robin Shoemaker – Citi

William Sanchez – Howard Weil

Pierre Conner - Capital One Southcoast

Daniel Boyd - Goldman Sachs

Brad Handler - Credit Suisse

Wagar Syed – Macquarie Capital

Kevin Simpson – Miller Tabak


Welcome to the Schlumberger Limited earnings conference call. (Operator Instructions) I would now like to turn the conference over to your host, Mr. Malcolm Theobald; please go ahead, sir.

Malcolm Theobald

Good morning and welcome to the Schlumberger Limited first quarter 2010 results conference call. Joining me for today's call are Andrew Gould, Chairman and Chief Executive Officer, and Simon Ayat, Chief Financial Officer.

Prior to Andrew's overview of the results and his comments on the outlook, Simon will first review the quarter's financial results. After the prepared statements we will welcome your questions. Before we begin with the opening remarks, I'd like to remind the participants that some of the information in today's call may include forward-looking statements as well as non-GAAP financial measures.

A detailed disclaimer and other important information are included in the FAQ document which is available on our website or upon request. And now, I'll turn the call over to Simon.

Simon Ayat

Thank you Malcolm, ladies and gentlemen thank you for participating in this conference call. Excluding charges first quarter income was $0.62 per share. This is down $0.05 sequentially and down $0.16 compared to the

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