Smith International lost $25.3 million in its...
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Smith International lost $25.3 million in its third quarter, in contrast with net income of $6.2 million a year ago. Revenue rose 13% to $84.4 million. The supplier of oil and gas drilling products cited a $23.4-million provision associated with the closure of its Irvine operations and consolidation of all U.S. manufacturing into Ponca City, Okla., and Houston.
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