Weatherford International Rises After Q4 Results

is up more than two percent in after hours trading after the company announced its fourth quarter results. The firm reported a Q4 EPS of $0.07 versus the Street estimate of $0.13. Revenue came in at $3.74 billion, which is slightly below the Street's estimate of $3.86 billion. Sales were down eight percent year-over-year. Earlier this year Weatherford said that it expected to report a Q4 EPS between $0.05 and $0.08. At the time, the Street estimate was $0.26. Some analysts must have maintained their lofty expectations, however, because the Street estimate was only cut in half. Based on Weatherford's own estimates, some investors might have expected Wall Street's estimates to be lower. "While the fourth quarter results were disappointing, Weatherford is now actively engaged in transforming itself into a lean, deleveraged and focused organization going into 2014," Bernard J. Duroc-Danner, Chairman, President and Chief Executive Officer, said in a

. "Over the last few years, we have been consumed with remediating the material weakness in our tax accounting and managing several governmental investigations. Now that we have both of these distractions behind us, we can focus fully on the future. We have defined three initiatives that will transform Weatherford. In January, Weatherford

its weak expectations to the following factors:

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