Varco International Inc.: The Orange-based manufacturer of...

Varco International Inc.: The Orange-based manufacturer of tools and equipment for the petroleum industry posted net income of $2.1 million for the third quarter, compared with net income of $408,000 for the 1989 quarter. Revenue increased 67%, to $36.5 million from $21.8 million. For the first nine months of 1990, net income rose to $5.3 million from $1.3 million a year ago. Revenue was up 34%, to $87.5 million from $65.3 million. The third quarter includes the results of the company’s Martin-Decker Instrumentation division, acquired from Cooper Industries Inc. in May.