CAM-Do

Like a junior high school dance, a lot of players in the energy space are hanging back and waiting for others to start the action. Nobody seems to doubt that there is going to be another wave of energy development projects and rig-building, but there seems to be some reluctance on the part of the major players to make a move. This could be good news for investors thinking about taking a position in Cameron (NYSE:CAM). 

The Quarter that Was
Cameron got a lot of the wrong kind of publicity during the BP (NYSE:BP) oil spill debacle (the company provided the blowout preventer), but the drilling moratorium did not significantly hurt the company's third-quarter business. Revenue rose 24% from the year-ago level, and net income increased by 19%. EBITDA was a little less impressive, climbing 19% on a year-over-year basis.

Although the company surpassed estimates by a small margin, there was more positive news in the order book. Orders were up 10%, and the book-to-bill for the quarter was just a bit under 1.0. The company's backlog is also quite considerable, standing at nearly $5 billion exiting the quarter. Although this represents an increase in backlog on a sequential basis, year-over-year figures were reduced.


Please click the link for the full piece:
http://stocks.investopedia.com/stock-analysis/2010/CAM-Do-CAM-NOV-FTI-PBR-SDRL-ATW1104.aspx