Crediting increased sales of its Top Drive...

Crediting increased sales of its Top Drive Drilling System, Varco International said its net income for the first quarter was $788,000, contrasted with a net loss of $2.1 million a year ago. Revenue totaled $16.1 million, more than doubling the year-earlier figure of $7.8 million. Varco, based in Orange, is a manufacturer of tools and equipment used in the petroleum industry.