Nov. 21 (Bloomberg) -- Schoeller-Bleckmann Oilfield Equipment AG, a producer of gear to extract oil from hard-to-reach places, said third-quarter new orders weakened and clients may turn “temporarily cautious.”
The order backlog fell 9 percent to 190.3 million euros ($243 million) in the three months to September, the Ternitz, Austria-based company said today in a report. New orders “slightly diminished” in the period, Schoeller-Bleckmann said.
“Given customers’ overly optimistic ordering behavior in the first half of 2012 and the still unclear outlook for further global economic development, a temporarily cautious spending policy” of its customers “has to be taken into account,” Schoeller-Bleckmann said.
Net income increased 46 percent to 19.65 million euros in the period, up from 13.65 million euros a year earlier, according to the producer.
Schoeller-Bleckmann fell as much as 2 percent in Vienna trading and was 1.2 percent lower at 72.39 euros by 9:14 a.m. That cut the stock’s gain this year to 5 percent.
The company had said in August that third-quarter orders were “strong” after reporting record profit and sales in the first half.
Schoeller-Bleckmann makes directional-drilling equipment to extract crude on land and under water, and has benefited from higher oil prices that justify bigger investments into production in places that require more elaborate technology.
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