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Friday 20 April 2001

Schlumberger First Quarter Results

Schlumberger Limited has reported first quarter operating revenue of $2.91 billion, a 36% increase over the same period last year.

Net income for the first quarter was $261 million before a $25 million charge for in-process research & development related to the Bull CP8 acquisition, compared with $136 million last year.

Chairman and Chief Executive Officer Euan Baird commented: "The continued surge in North American activity coupled with the start of growth elsewhere, is clearly reflected in the results of Oilfield Services this quarter. Our efficient GeoMarket organization has allowed us to maximize our performance in terms of year-on-year revenue growth and operating margin improvements. These bullish trends appear set to continue unless a global economic slowdown reduces growth in oil demand.

"The acquisition of Sema was completed on April 6, 2001, less than two months after the transaction was first announced, and the integration process is already underway. Schlumberger Sema is an Information Technology products and service company for the 21st century, which combines in-depth knowledge of certain industries with world-class IT and networking skills. This unique mix of expertise will allow our customers to e-transform their businesses and realise substantial savings as they turn data into real-time decisions."

Schlumberger Test & Transactions operating revenue in the first quarter increased 14% compared with the same quarter last year and fell 13% sequentially. The sequential decline in activity was mostly due to the continuing down cycle in the semiconductor industry. Orders were down 10% compared with the same quarter last year and up 9% sequentially.

In March, Test & Transactions acquired Bull CP8, a market leader in microprocessor-based Smart Cards and associated systems applications for the banking, mobile communications and network security industries. This acquisition makes Schlumberger a leader in Smart Cards and adds unique R&D and Smart Card technology capabilities in the banking segment where Bull CP8 holds a strong, globally recognised position.Cards revenue grew 20% year-over-year and declined 4% sequentially.

Contact: Rex Ross, Schlumberger Limited
Tel: +1 212 350 9432
Web site:


MasterCard Announces New Platform

MasterCard International has announced the deployment of what it describes as a revolutionary new payment-processing platform that frees member financial institutions to leverage technology in support of their specific business needs.

"With MasterCard, members are not held captive by a card association's technology," said Rob Reeg, MasterCard senior vice president, Systems Development. "With the new platform, members now have the flexibility to customise processing to their business, allowing them to take advantage of many new opportunities, both locally and globally."

"We have completed the most sweeping technological change in MasterCard history by developing the first integrated, global payment-processing platform," said Jerry McElhatton, MasterCard Global Technology and Operations Senior Executive Vice President. "The days of 'one size fits all' are over. With the new platform, our members' business goals drive the technology, instead of technology driving their business decisions." The new platform is designed to accommodate any type of payment, including those initiated through emerging and evolving payment channels such as the Internet and wireless devices.

Contact: Linda Locke, MasterCard International
Tel: +1 314 523 7782


First Quarter Results from STMicroelectronics

STMicroelectronics reports Net revenues for the first quarter increased 12.9% to $1,921.1 million, from $1,702.2 million in the 2000 first quarter. Gross profit was $855.8 million, representing an increase of 19.3% over 2000 first quarter.

Pasquale Pistorio, President and Chief Executive Officer, commented: "ST achieved solid performance in the first quarter of 2001, posting year-over-year double-digit growth in revenues, gross and operating profits and net earnings. Based on current industry forecasts for first quarter 2001, I believe that ST continued to outperform the industry and gain market share."

Web site:


Datakey Order for Smart Card Systems

Datakey reports that an international government organisation has placed an order for Datakey PKI Smart Cards, card readers and client software for 10,000 users. Datakey PKI Smart Card systems will provide advanced security and strong user authentication for employees conducting daily business operations over computer networks.

Web site:

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