National Oilwell Varco Inc. (NYSE: NOV), Houston, TX, reported sales for the third quarter of $3.3 billion, a decrease of 40.8 percent compared to the same period a year ago. Profit decreased 77.8 percent to $155 million.
Third quarter sales for the rig systems segment were $1.5 billion, a decrease of 44 percent year-over-year. Sales for the rig aftermarket segment decreased 44 percent to $570 million.
Year-to-date sales were $5.9 billion, down 18.4 percent over the prior-year period. Profit decreased 60.5 percent to $754 million.