USA: Halliburton to Have Almost $1 Billion Gain From KBR

By Jim Kennett

Halliburton Co., the world's second- largest oilfield-services company, said it will have a gain of almost $1 billion in the second-quarter from its split with former subsidiary KBR Inc.

The gain will be reflected among discontinued operations from KBR, the former government-services and engineering subsidiary that was split off to investors earlier this month, Chief Executive Officer David Lesar told analysts yesterday on a conference call to discuss first-quarter earnings.

Lesar separated Halliburton from KBR to create a company focused on oilfield contracting. Halliburton services oil and natural-gas producers, while KBR builds energy infrastructure such as refineries and liquefied natural-gas plants, and bids on military and non-military government-services contracts. KBR is the largest U.S. military contractor in Iraq.

Halliburton yesterday reported a 13 percent rise in first- quarter net income, to $552 million, or 54 cents a share. Shares of the company rose 12 cents to $31.75 in New York Stock Exchange composite trading. They rose 9 cents yesterday.



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