Baker International Net Up 21% to $23 Million

Baker International, the Orange-based oil-services company, said its third-quarter profits jumped nearly 21% to $23 million from $19 million while revenue increased a modest 2% to $471.5 million from $461.5 million a year earlier.

Chairman and Chief Executive E. H. Clark Jr. said the gains were largely the result of cost-cutting efforts, improved efficiency and lower interest expenses due to declining interest rates.

For the first nine months of the 1985 fiscal year, Baker had profits of $61.7 million, 34% more than the $45.9 million posted a year ago. Revenue for the period was $1.4 billion, up 3% from last year.

Although noting that the oil industry faces a continuing glut and uncertainties over future tax policies, Clark predicted a 25% gain in profits for Baker’s full 1985 fiscal year.