ORANGE COUNTY EARNINGS

Varco International Inc.: The Orange oil and gas drilling equipment maker said second-quarter profits surged 82%, to $19.7 million, or 30 cents a share, from $10.8 million, or 17 cents a share, a year earlier. Revenue rose 52%, to $192.7 million from $129.6 million. First-half profits advanced 91%, to $34.7 million, or 53 cents a share, from $18.2 million, or 28 cents a share, for the 1997 first half. Revenue was up 51% to $347.4 million from $230.7 million.