Baker Hughes warns on Canada, hits oil svc co's

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13 July 2007 @ 11:04 am ET

Analysts on average expected the company to earn $1.18 a share according to Reuters Estimates.

An increase in Baker Hughes' effective tax rate to between 34 to 35 percent is expected to reduce the company's earnings by about 3 cents per share.

The company is scheduled to release its definitive results on July 27.

Baker Hughes shares were down 5.5 percent to $84.20 per share on the New York Stock Exchange.

(Reporting by Matt Daily and Michael Erman in New York and Ankur Relia in Bangalore)

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