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

Varco International Inc.: The Orange manufacturer of drilling equipment and machinery posted a third-quarter profit of $1 million, or 3 cents a share. That contrasted with a loss of $5.4 million, or 16 cents a share, for the same period a year earlier. The 1992 quarter included a charge of about $4.9 million related to the closing of a manufacturing facility. Revenue rose 16% to $43.7 million from $37.8 million. For the first nine months of 1993, profit was $3.8 million, or 11 cents a share, contrasted with a loss of $687,000, or 2 cents a share, for the same period a year earlier. Nine-month revenue was $138.2 million, up from $122.6 million. The company said the revenue increase is attributable to the acquisition of the Shaffer division in July, 1992.