UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) : April 20, 2007
WEATHERFORD INTERNATIONAL LTD.
(Exact name of registrant as specified in charter)
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Bermuda
(State of Incorporation)
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1-31339
(Commission File No.)
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98-0371344
(I.R.S. Employer Identification No.) |
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515 Post Oak Boulevard
Suite 600
Houston, Texas
(Address of Principal Executive Offices)
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77027
(Zip Code) |
Registrant’s telephone number, including area code: (713) 693-4000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 2.02. Results of Operations and Financial Condition.
Following the previously announced realignment of our operating structure in January 2007, we
reviewed the presentation of our reporting segments and determined to segment our operational
performance on a geographic basis. The following table presents our quarterly net revenues and
operating income for the fiscal year ended December 31, 2006 under our new operating segments.
This information does not change, alter or restate information that we previously released or
included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2006. Rather, it
provides supplemental information relating to previously reported results of operations. We intend
to report our results of operations for all periods during 2007 according to the regions presented
below.
Weatherford International Ltd.
Selected Income Statement Information
(Unaudited)
(In thousands)
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Three months ended |
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December 31, |
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September 30, |
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June 30, |
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March 31, |
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2006 |
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2006 |
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2006 |
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2006 |
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Net Revenues: |
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North America |
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$ |
956,436 |
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$ |
954,007 |
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$ |
839,753 |
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$ |
922,434 |
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Latin America |
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211,512 |
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173,953 |
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178,637 |
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162,095 |
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Europe/West Africa/CIS |
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229,757 |
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215,270 |
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205,092 |
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177,224 |
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Middle East/North Africa/Asia |
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409,883 |
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353,523 |
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315,094 |
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274,258 |
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$ |
1,807,588 |
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$ |
1,696,753 |
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$ |
1,538,576 |
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$ |
1,536,011 |
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Operating Income (Expense): |
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North America |
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$ |
269,202 |
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$ |
279,539 |
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$ |
220,957 |
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$ |
258,238 |
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Latin America |
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46,413 |
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27,877 |
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33,575 |
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25,162 |
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Europe/West Africa/CIS |
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47,082 |
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45,507 |
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44,515 |
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33,710 |
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Middle East/North Africa/Asia |
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98,086 |
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71,134 |
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57,806 |
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46,314 |
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Research and Development |
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(37,384 |
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(38,241 |
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(37,361 |
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(36,443 |
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Equity in Earnings (Losses) |
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93 |
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(190 |
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3,293 |
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2,634 |
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Corporate Expenses |
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(26,625 |
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(24,718 |
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(21,507 |
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(22,256 |
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Exit Costs and Restructuring Charges |
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(23,433 |
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— |
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(2,770 |
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— |
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$ |
373,434 |
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$ |
360,908 |
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$ |
298,508 |
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$ |
307,359 |
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