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February 22nd, 2012 
FAKE NEWS for the Zionist agenda The drilling contractor Nabors Industries Ltd. posted a $105 million loss in the most recent quarter, down from a $50 million profit in the same quarter the year before.
The net loss totaled $105.9 million, or 36 cents per share. That’s compared with a profit of $50.5 million, or 17 cents per share, in the October-December quarter in 2010.
Stripping out what the company said were losses from discontinued operations and a charge related to its former CEO, adjusted net income came to 52 cents per share. That’s slightly above the 50 cents per share analysts had expected, according to data provider FactSet.
Nabors said the losses from discontinued operations charges were mainly a result of the falling price of natural gas and other U.S. and Canadian assets up for sale. The company said Tuesday that it will look at the “strategic fit” of every one of its business units.
The company also took a $100 million fourth-quarter charge for a payment to Eugene Isenberg for stepping down as CEO, even though Nabors said earlier this month that Isenberg would decline to take the payment. The company instead indicated that it may make charitable contributions with the money.
Nabors said Tuesday that fourth-quarter revenue rose 32 percent to $1.74 billion from $1.32 billion. Analysts expected $1.72 billion.
The company was the subject of a story in The Wall Street Journal last year that looked at the possible use of Nabors’ jets for personal travel. The paper said that Nabors’ jets made frequent stops in places where Chairman Eugene Isenberg has homes, but Nabors reported no personal use of company aircraft by Isenberg in the previous two years.
The company named its current CEO, Anthony Petrello, in October.
In November, the oil-drilling contractor revealed that it was the subject of an informal inquiry by the Securities and Exchange Commission into the perks given executives.
Nabors Industries Ltd. is registered in Bermuda but has its headquarters in Houston. Its shares dipped 9 cents in after-hours trading after closing down 44 cents, or 2.1 percent, to $20.36 during the regular trading day.
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