What are the key financial results reported for the second quarter of 2011?

For the second quarter of 2011, SLB reported GAAP income from continuing operations of $1.12 billion, resulting in diluted earnings per share of $0.82. Excluding certain charges, income from continuing operations was $1.18 billion, with diluted earnings per share of $0.87. This represents a notable increase compared to the previous quarter and the second quarter of 2010.

What non-GAAP financial measures are being presented and why?

SLB is presenting non-GAAP measures such as Net Debt (gross debt minus cash and investments) and results excluding charges. Management uses Net Debt to provide a clearer picture of the company's indebtedness by reflecting assets that could be used to repay debt. The exclusion of charges helps in evaluating operations period over period and identifying trends that might be obscured by these items.

Where can I find the detailed financial information for Q2 2011?

The detailed financial results for the second quarter of 2011, including a press release and supplemental information, were posted on the Schlumberger internet website (www.slb.com/ir) on July 22, 2011. These are furnished as exhibits with this 8-K filing.

What is the significance of the information not being 'filed' under Section 18?

When information is furnished and not 'filed' under Section 18 of the Securities Exchange Act of 1934, it means it is being provided to the public but does not carry the same legal liability as if it were officially 'filed' with the SEC. This information is generally for informational purposes and is not incorporated by reference into other SEC filings unless specifically stated.

SLB 8-K: Earnings & Results & Regulation FD

Summary

This Form 8-K filing from SLB LIMITED/NV (SLB) on July 22, 2011, primarily announces the company's financial results for the second quarter of 2011. Investors can note a significant increase in earnings per share compared to the previous quarter and the prior year's second quarter. The report also clarifies the use of non-GAAP financial measures, such as Net Debt and results excluding charges, which management uses for operational analysis and trend identification. The company provided supplementary information and a press release detailing these results. While the information is furnished, it's important for investors to understand that it is not deemed 'filed' under Section 18 of the Exchange Act, meaning it does not carry the same legal implications as a traditional filing unless specifically incorporated into other SEC filings.

Key Highlights

1SLB reported Second-Quarter 2011 income from continuing operations attributable to Schlumberger of $1.12 billion.
2Diluted earnings per share (GAAP) for Q2 2011 were $0.82, up from $0.69 in the prior quarter and $0.68 in Q2 2010.
3Excluding charges, Q2 2011 income from continuing operations was $1.18 billion, with diluted EPS of $0.87.
4The filing introduces non-GAAP financial measures, including Net Debt and various "excluding charges" metrics, to provide additional operational insights.
5Management utilizes Net Debt (gross debt less cash and investments) to offer a view on the company's indebtedness.
6Financial results and supplemental information were posted on the company's website on July 22, 2011.
7The information provided in this 8-K is furnished and not deemed 'filed' for purposes of Section 18 of the Exchange Act.

SLB LIMITED/NV 8-K Report, Financial Results (Jul 22, 2011)

Summary

Key Highlights

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