1. For Widows and Orphans
That’s What She Said
Robin Holt-McLaren, Beth Petrunich, Nichole Robinson

2. Business Strategy Analysis
 Industry leader in providing services to oil and gas companies
- seismic surveys
- formation evaluation
- drilling technologies and equipment
- well construction and completion
- project management
 Competes in global market to win contracts
- Differentiates itself through providing most advanced
technology
 Dependent upon world’s oil/gas demand
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3. Accounting Analysis
 Clear, open accounting methods
–- Risks clearly stated in 10-K and presentations
 No restatement of earnings in 2010 or 2011
 8Ks released to address:
–- Mergers
–- Officer and board member changes
–- Reporting methods
–- Supplemental information (non-GAAP)
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4. Financial Analysis
Ratios 2011 2010 Difference
Current Ratio 1.95 1.67 .28
Inventory Turnover 6.4 7.22 -.82
Days Sales Outstanding 8.76 110 -101.24
Total Assets Turnover .7 .53 .17
Total Debt to Total Assets .43 .21 .22
Profit Margin on Sales 12.6% 15.5% -2.9%
Return on Assets 9.29% 10.62% -1.33%
Return on Equity 15.8% 17.02% -1.22%
P/E 20.57 18.56 2.01
Market/Book: M/B 2.92 3.62 -.7
DuPont Equation 15.9% 13.66% 2.24%

5. Prospective Analysis
 Forecasts for next 2 years are strong
 Out of 27 analysts for Forbes, none recommend to sell
–19: strong buy
–4: moderate buy
–4: hold
 IRR: 11%
 Data should be monitored over length of investment
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6. Schlumberger for Widows and Orphans?
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