Cameron International (CAM) Misses on Earnings

Cameron International Corporation (NYSE:CAM) missed on its first quarter profits, as the company was only able to generate $109.5 million, or 43 cents a share, against last year's $120.4 million, or 48 cents a share.

This was far below the average analyst estimate of 56 cents a share they were looking for.

Revenue for the quarter rose to $1.5 billion over last year in the same quarter, a gain of 11.5 percent.

Rising costs were the major factor in the declining performance of the oil equipment manufacturer.

Major competitors of Cameron include Bolt Technology Corp. (NASDAQ:BOLT), FMC Technologies, Inc. (NYSE:FTI), T-3 Energy Services, Inc. (NASDAQ:TTES), Halliburton Company (NYSE:HAL), National-Oilwell Varco, Inc. (NYSE:NOV), Dril-Quip, Inc. (NYSE:DRQ), Flotek Industries, Inc. (NYSE:FTK), Baker Hughes Incorporated (NYSE:BHI), Lufkin Industries, Inc. (NASDAQ:LUFK) and Oil States Intl., Inc. (NYSE:OIS).

Cameron was trading at $52.85, falling $1.59, or 2.92 percent, as of 12:16 PM EDT.