Varco International Inc., the Orange manufacturer of...

Varco International Inc., the Orange manufacturer of oil drilling equipment, reported a profit of $430,000 on revenue of $15.3 million for the third quarter. Varco lost $1.4 million on $9.1 million in income during the same period a year earlier. For the nine months, the company earned $2 million on revenue of $48.8 million. For the same period in 1987, Varco lost $6.1 million on revenue of $24.6 million. Varco Chairman W. B. Reinhold attributed the company’s improved results to strong sales of Varco’s top drive drilling system, which increases the efficiency of off-shore drilling.