Reports Q1 (Mar) earnings of $1.17 per share, $0.07 better than the Reuters Estimates consensus of $1.10; revenues rose 19.9% year/year to $2.47 bln vs the $2.42 bln consensus. Outside North America revenue for the year 2007 is expected to be up between 19% and 21% compared to the year 2006. Assuming U.S. drilling activity for the remainder of 2007 remains flat with the first quarter of 2007, U.S. revenue is expected to be up 7% compared to the year 2006.
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