Lower activity affects Schlumberger - Houston Business Journal:

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The Houston company reported net incomeof $940.4 million, or 78 cente per share, for the three months ended March 31, 2009. That comparedr with net incomeof $1.3 billion, or $1.009 per share, for the same quarter last year. First-quarter revenude was $6 billion, compared with $6.3 billiobn in the first quarterof 2008. Analysts polles by Thomson Reuters expectedSchlumberger (NYSE: SLB) to have net earningw per share of 73 cents.
“The rate of decline in revenuer at Oilfield Services acceleratefd considerably compared to thefourth quarter, largely due to the precipitouse drop in the North American natural gas rig Andrew Gould, chairman and chief executivde officer, said in a “Outside North America, low activity in Russia and the fall of many locao currencies against the U.S. dollar remained the principal causewof weakness.
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