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BUSINESS
December 11, 1987 | LESLIE BERKMAN, Times Staff Writer
In a move applauded by Wall Street, Smith International said Thursday that Jerry W. Neely has resigned as chairman and chief executive of the Newport Beach oil tool manufacturer, which recently emerged from 20 months of bankruptcy proceedings. Neely, 51, had been chief executive since 1976, and chairman since 1978.
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BUSINESS
December 11, 1987 | LESLIE BERKMAN, Times Staff Writer
In a move applauded by Wall Street, Smith International said Thursday that Jerry W. Neely has resigned as chairman and chief executive of the Newport Beach oil tool manufacturer, which recently emerged from 20 months of bankruptcy proceedings. Neely, 51, had been chief executive since 1976, and chairman since 1978.
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BUSINESS
April 26, 1988 | ERIC SCHINE
H. Moak Rollins will step down as chairman of Smith International, Newport Beach, but will remain as a director. Rollins was appointed to the largely honorary position in January, when the oil field equipment manufacturer emerged from bankruptcy proceedings.
BUSINESS
April 26, 1988 | ERIC SCHINE, Times Staff Writer
Smith International announced Monday that H. Moak Rollins will step down as chairman of the Newport Beach firm. Rollins was appointed to the largely honorary position in January, when the oil field equipment manufacturer emerged from bankruptcy proceedings. Robert Sutherland, executive vice president of Industrial Equity Ltd.
BUSINESS
April 29, 1988 | ERIC SCHINE, Times Staff Writer
Smith International, the Newport Beach drill-bit manufacturer that emerged from bankruptcy in January, reported Thursday its first quarterly operating profit since 1985. The stronger than expected performance surprised and pleased analysts who had recently been told that the company was likely to remain in the red for most of the year. The company posted net earnings of $481,000, or a penny a share, on revenues of $77.6 million for the quarter ended March 31.
BUSINESS
December 11, 1987 | LESLIE BERKMAN, Times Staff Writer
In a move applauded by Wall Street, Smith International said Thursday that Jerry W. Neely has resigned as chairman and chief executive of the Newport Beach oil tool manufacturer, which recently emerged from 20 months of bankruptcy proceedings. Neely, 51, blamed by many oil industry observers for much of the company's financial difficulties, stepped down Wednesday as chief executive, a position he had held since 1976.
BUSINESS
October 26, 1988 | ERIC SCHINE, Times Staff Writer
Smith International, one of the nation's leading oil well equipment makers and an Orange County presence for 52 years, said Tuesday that it is closing its Irvine drill bit plant and moving its headquarters to Houston. A total of 456 plant workers and 30 corporate staffers will be affected by the California pullout, which will be completed by March 31, 1989, Smith President Doug Rock said.
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