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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
MARCH 22, 2000
DATE OF REPORT
(DATE OF EARLIEST EVENT REPORTED)
SMITH INTERNATIONAL, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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DELAWARE 1-8514 95-3822631
(STATE OR OTHER JURISDICTION OF (COMMISSION (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) FILE NUMBER) IDENTIFICATION NO.)
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16740 HARDY STREET
HOUSTON, TEXAS
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
77032
(ZIP CODE)
(281) 443-3370
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
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ITEM 5: OTHER EVENTS
A copy of the press release announcing the Company's outlook for first
quarter 2000 results is filed as Exhibit 99.1 and is hereby incorporated herein
by reference.
ITEM 7: FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of businesses acquired
Not applicable.
(b) Pro forma financial information
Not applicable.
(c) Exhibits
99.1 Press Release issued by the Registrant dated March 22, 2000.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SMITH INTERNATIONAL, INC.
/s/ NEAL S. SUTTON
--------------------------------------------
By: Neal S. Sutton
Senior Vice President - Administration,
General Counsel and Secretary
Date: March 22, 2000
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EXHIBIT INDEX
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EXHIBIT NO. DESCRIPTION
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99.1 Press Release dated March 22, 2000.
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EXHIBIT 99.1
SMITH INTERNATIONAL, INC.
P.O. BOX 60068
HOUSTON, TX 77205-0068
WEBSITE ADDRESS: smith.com
FOR RELEASE
WEDNESDAY, MARCH 22, 2000
CONTACT: MARGARET K. DORMAN
CHIEF FINANCIAL OFFICER
(281) 443-3370
SMITH INTERNATIONAL, INC. COMMENTS
ON FIRST QUARTER OUTLOOK
HOUSTON, Texas (March 22, 2000)... Smith International, Inc. (NYSE, PCX:
SII) today announced it anticipates revenues for the first quarter of 2000 will
be in excess of $600 million, more than 50 percent above revenues reported in
the prior year quarter. While results for the period have not yet been
consolidated, the Company believes first quarter earnings per share on a diluted
basis will be in the $0.20 to $0.22 range. Financial results for the first
quarter will be announced the afternoon of April 19, 2000.
Smith International, Inc. is a leading worldwide supplier of premium
products and services to the oil and gas exploration, production and
petrochemical industries through its four principal business units - M-I L.L.C.,
Smith Bits, Smith Services and Wilson.
Certain comments contained in this news release concerning the anticipated
financial results of the Company constitute "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995 and are
subject to the safe harbor created by that Act. Whenever possible, the Company
has identified these "forward-looking" statements by words such as
"anticipates", "believes" and similar phrases. The forward-looking statements
are based upon managements' expectations and beliefs and, although these
statements are based upon reasonable assumptions, there can be no assurances
that the Company's financial results will be as estimated. The Company assumes
no obligation to update publicly any forward-looking statements whether as a
result of new information, future events or otherwise. Additionally, for a
discussion of certain risk factors which could impact the Company's results,
review the Smith International, Inc. Annual Report on Form 10-K for the year
ended December 31, 1998 as filed with the Securities and Exchange Commission.
