Profits Climb 21% at Baker International

Baker International Corp., the Orange-based oil services company, said Wednesday that profits for the third quarter jumped nearly 21% to $23 million from $19 million while revenues of $471.5 million increased a modest 2% from $461.5 million a year earlier.

E. H. Clark Jr., chairman and chief executive officer, said the profit gains were largely the result of cost-cutting efforts , improved efficiency and lower interest expenses because of declining interest rates.

For the first nine months of the 1985 fiscal year, Baker had profits of $61.7 million, 34% more than the $45.9 million posted a year ago. Revenues for the period were $1.4 billion, up 3% from the $1.35 billion recorded last year.

Although he noted that the oil industry faces a continuing glut and uncertainties over future tax policies, Clark predicted a 25% gain in profits for Baker’s full 1985 fiscal year.