National Oilwell Varco Sales Increase 12.1% in 2014

Company's sales up 7.7 percent in fourth quarter.

National Oilwell Varco Inc. (NYSE: NOV), Houston, TX, reported sales for 2014 of $21.4 billion, an increase of 12.1 percent from the previous year. Profit increased 7.5 percent to $2.5 billion.

The company reported sales for the fourth quarter of $5.7 billion, an increase of 7.7 percent compared to the same period a year ago. Profit decreased 9.6 percent to $595 million.

Fourth-quarter sales for the rig systems segment were $2.6 billion, an increase of 7 percent from the fourth quarter of 2013. Fourth-quarter sales for the rig aftermarket segment were $850 million, an increase of 12 percent from the fourth quarter of 2013.

Sales for the fourth quarter of the wellbore technologies segment were $1.5 billion, an increase of 12 percent from fourth-quarter 2013. And the completion & production solutions segment generated revenues of $1.3 billion, an increase of 15 percent from fourth-quarter 2013.

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