Schlumberger’s income hit $353 million for 1987,...

Schlumberger’s income hit $353 million for 1987, a turnaround from 1986 when the New York company lost $2.02 billion. Revenue was down 4.25% at $4.73 billion. Actions taken last year to scale down the company to a level commensurate with oil field activity helped improve results, the firm said, and in the past six months, the number of active drilling rigs rebounded from a steep slide in the first half of the year.