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 24, 2003
SCHLUMBERGER N.V. (SCHLUMBERGER LIMITED)
(Exact name of registrant as specified in its charter)
| Netherlands Antilles |
1-4601 |
52-0684746 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 153 East 53rd Street, 57th Floor |
||
| New York, New York |
10022-4624 | |
| 42, rue Saint-Dominique |
||
| Paris, France |
75007 | |
| Parkstraat 83, |
||
| The Hague, |
||
| The Netherlands |
2514 JG | |
| (Addresses of principal executive offices) |
(Zip or Postal Codes) |
Registrant’s telephone number in the United States, including area code: (212) 350-9400
| Item 7. | FINANCIAL STATEMENTS AND EXHIBITS |
(c) Exhibits
99.1 Revenue & Income from Continuing Operations
| Item 9. | REGULATION FD DISCLOSURE |
The Revenue & Income from Continuing Operations Schedule attached hereto as Exhibit 99.1, which is incorporated in this Item 9 by reference, was posted on the Schlumberger internet web site (www.slb.com/ir) on April 24, 2003 and is furnished under Items 9 and 12 (in accordance with SEC Release 33-8216).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SCHLUMBERGER N.V. (SCHLUMBERGER LIMITED) | ||
| By: |
/S/ FRANK A. SORGIE | |
| Frank A. Sorgie | ||
| Chief Accounting Officer | ||
Date: April 24, 2003
Exhibit 99.1
REVENUE & INCOME FROM CONTINUING OPERATIONS
(Restated for WesternGeco carve out from Oilfield Services Areas)
($ Millions)
| REVENUE FROM CONTINUING OPERATIONS |
2 0 0 2 |
2003 |
||||||||||||||||||||||
| Q1 |
Q2 |
Q3 |
Q4 |
Year |
Q1 |
|||||||||||||||||||
| OILFIELD SERVICES |
||||||||||||||||||||||||
| North America |
$ |
563.7 |
|
$ |
558.9 |
|
$ |
558.4 |
|
$ |
551.2 |
|
$ |
2,232.2 |
|
$ |
595.4 |
| ||||||
| Latin America |
|
324.6 |
|
|
310.4 |
|
|
316.9 |
|
|
350.2 |
|
|
1,302.1 |
|
|
289.6 |
| ||||||
| Europe/CIS/W. Africa |
|
554.9 |
|
|
587.3 |
|
|
647.8 |
|
|
594.7 |
|
|
2,384.7 |
|
|
588.0 |
| ||||||
| Middle East & Asia |
|
445.9 |
|
|
486.1 |
|
|
477.5 |
|
|
468.8 |
|
|
1,878.3 |
|
|
489.3 |
| ||||||
| Eliminations & Other |
|
14.3 |
|
|
16.8 |
|
|
17.8 |
|
|
24.8 |
|
|
73.7 |
|
|
14.6 |
| ||||||
| $ |
1,903.4 |
|
$ |
1,959.5 |
|
$ |
2,018.4 |
|
$ |
1,989.7 |
|
$ |
7,871.0 |
|
$ |
1,976.9 |
| |||||||
| WESTERN GECO |
$ |
385.1 |
|
$ |
359.9 |
|
$ |
399.3 |
|
$ |
331.7 |
|
$ |
1,476.0 |
|
$ |
306.7 |
| ||||||
| SCHLUMBERGERSEMA |
||||||||||||||||||||||||
| North & South America |
$ |
146.0 |
|
$ |
142.2 |
|
$ |
132.2 |
|
$ |
124.9 |
|
$ |
545.3 |
|
$ |
136.2 |
| ||||||
| Europe/Middle East/Africa |
|
529.2 |
|
|
552.0 |
|
|
579.5 |
|
|
656.4 |
|
|
2,317.1 |
|
|
605.1 |
| ||||||
| Asia |
|
50.5 |
|
|
52.0 |
|
|
52.5 |
|
|
58.0 |
|
|
213.0 |
|
|
52.5 |
| ||||||
| Telecom Products |
|
15.9 |
|
|
22.5 |
|
|
15.3 |
|
|
15.8 |
|
|
69.5 |
|
|
12.6 |
| ||||||
| Eliminations |
|
(35.2 |
) |
|
(42.1 |
) |
|
(34.0 |
) |
|
(42.4 |
) |
|
(153.7 |
) |
|
(13.6 |
) | ||||||
| $ |
706.4 |
|
$ |
726.6 |
|
$ |
745.5 |
|
$ |
812.7 |
|
$ |
2,991.2 |
|
$ |
792.8 |
| |||||||
| OTHER |
$ |
319.6 |
|
$ |
358.8 |
|
$ |
366.8 |
|
$ |
396.4 |
|
$ |
1,441.6 |
|
$ |
341.5 |
| ||||||
| Eliminations |
$ |
(58.3 |
) |
$ |
(67.3 |
) |
$ |
(83.8 |
) |
$ |
(96.7 |
) |
$ |
(306.1 |
) |
$ |
(74.6 |
) | ||||||
| Revenue |
$ |
3,256.2 |
|
$ |
3,337.5 |
|
$ |
3,446.2 |
|
$ |
3,433.8 |
|
$ |
13,473.7 |
|
$ |
3,343.3 |
| ||||||
| INCOME FROM CONTINUING OPERATIONS |
2 0 0 2 |
2 0 0 3 |
||||||||||||||||||||||
| Q1 |
Q2 |
Q3 |
Q4 |
Year |
Q1 |
|||||||||||||||||||
| OILFIELD SERVICES |
||||||||||||||||||||||||
| North America |
$ |
80.3 |
|
$ |
76.3 |
|
$ |
65.4 |
|
$ |
56.2 |
|
$ |
278.2 |
|
$ |
72.8 |
| ||||||
| Latin America |
|
39.1 |
|
|
36.6 |
|
|
43.6 |
|
|
50.7 |
|
|
170.0 |
|
|
33.7 |
| ||||||
| Europe/CIS/W. Africa |
|
98.2 |
|
|
111.2 |
|
|
100.8 |
|
|
64.8 |
|
|
375.0 |
|
|
99.9 |
| ||||||
| Middle East & Asia |
|
104.6 |
|
|
119.3 |
|
|
114.4 |
|
|
115.5 |
|
|
453.8 |
|
|
115.8 |
| ||||||
| Eliminations & Other |
|
(15.3 |
) |
|
3.9 |
|
|
2.2 |
|
|
(11.2 |
) |
|
(20.4 |
) |
|
(7.6 |
) | ||||||
| $ |
306.9 |
|
$ |
347.3 |
|
$ |
326.4 |
|
$ |
276.0 |
|
$ |
1,256.6 |
|
$ |
314.6 |
| |||||||
| WESTERN GECO |
$ |
47.0 |
|
$ |
18.4 |
|
$ |
(0.5 |
) |
$ |
6.4 |
|
$ |
71.3 |
|
$ |
— |
| ||||||
| SCHLUMBERGERSEMA |
||||||||||||||||||||||||
| North & South America |
$ |
(17.0 |
) |
$ |
(13.6 |
) |
$ |
(1.5 |
) |
$ |
(10.5 |
) |
$ |
(42.6 |
) |
$ |
4.3 |
| ||||||
| Europe/Middle East/Africa |
|
35.5 |
|
|
33.1 |
|
|
35.8 |
|
|
63.5 |
|
|
167.9 |
|
|
13.3 |
| ||||||
| Asia |
|
4.1 |
|
|
2.9 |
|
|
0.9 |
|
|
(3.0 |
) |
|
4.9 |
|
|
10.6 |
| ||||||
| Telecom Products |
|
(6.7 |
) |
|
(6.2 |
) |
|
(8.5 |
) |
|
(3.0 |
) |
|
(24.4 |
) |
|
(5.5 |
) | ||||||
| Eliminations |
|
(15.0 |
) |
|
(12.7 |
) |
|
(30.0 |
) |
|
(13.8 |
) |
|
(71.5 |
) |
|
(7.9 |
) | ||||||
| $ |
0.9 |
|
$ |
3.5 |
|
$ |
(3.3 |
) |
$ |
33.2 |
|
$ |
34.3 |
|
$ |
14.8 |
| |||||||
| OTHER |
$ |
(3.0 |
) |
$ |
6.7 |
|
$ |
5.4 |
|
$ |
11.0 |
|
$ |
20.1 |
|
$ |
3.1 |
| ||||||
| Eliminations |
$ |
(29.0 |
) |
$ |
(43.2 |
) |
$ |
(27.8 |
) |
$ |
(48.0 |
) |
$ |
(148.0 |
) |
$ |
(40.5 |
) | ||||||
| Pre-Tax Operating Income |
$ |
322.8 |
|
$ |
332.7 |
|
$ |
300.2 |
|
$ |
278.6 |
|
$ |
1,234.3 |
|
$ |
292.0 |
| ||||||
| Interest Income |
|
18.0 |
|
|
18.9 |
|
|
16.3 |
|
|
15.0 |
|
|
68.2 |
|
|
13.1 |
| ||||||
| Interest Expense |
|
(80.2 |
) |
|
(94.2 |
) |
|
(96.4 |
) |
|
(93.3 |
) |
|
(364.1 |
) |
|
(91.2 |
) | ||||||
| Charges |
|
(30.3 |
) |
|
— |
|
|
— |
|
|
(3,138.3 |
) |
|
(3,168.6 |
) |
|
— |
| ||||||
| Tax expense |
|
(64.0 |
) |
|
(65.2 |
) |
|
(57.3 |
) |
|
(92.6 |
) |
|
(279.1 |
) |
|
(69.0 |
) | ||||||
| Minority Interest |
|
(6.5 |
) |
|
(0.7 |
) |
|
4.7 |
|
|
94.3 |
|
|
91.8 |
|
|
4.3 |
| ||||||
| Income from Continuing Operations |
$ |
159.8 |
|
$ |
191.5 |
|
$ |
167.5 |
|
$ |
(2,936.3 |
) |
$ |
(2,417.5 |
) |
$ |
149.2 |
| ||||||