Before the bell: Baker Hughes, Smith, Sterling, BJ Services

Baker Hughes Inc., Smith International Inc. and Sterling Bancshares Inc. reported first-quarter earnings Tuesday, while BJ Services Co. reported second-quarter earnings.

Baker Hughes, a Houston-based oil and gas services company, reported net income of $395 million, or $1.27 per share, on revenue of $2.7 billion, for the first quarter ended March 31, 2008. That compared with $374.7 million, or $1.17 per share, on revenue of $2.5 billion, for the first quarter 2007.

First-quarter 2008 results included a pre-tax gain of $28.2 million from the sale of its completion and production segment's surface safety systems product line.

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Analysts polled by Thomson Financial expected Baker Hughes (NYSE: BHI) to have net earnings per share of $1.20.

Smith International (NYSE: SII), a Houston-based supplier of products and services to the oil and gas industry, posted net income of $175 million, or 87 cents per share, on revenue of $2.37 billion, for the quarter ended March 31, 2008. That compared with net income of $152.7 million, or 76 cents per share, on revenue of $2.11 billion, for the same period a year-earlier.

Houston bank holding company Sterling Bancshares (NASDAQ: SBIB) reported net income of $11.6 million, or 16 cents per share, on total interest income of $70.6 million for the three-months ended March 31, 2008. That compared with net income of $11.9 million, or 17 cents per share, on total interest income of $67.9 million in the same quarter in 2007.

Analysts expected Sterling to have net earnings per share of 17 cents.

Oilfield services company BJ Services (NYSE: BJS) reported net income of $127.3 million, or 43 cents per share, on revenue of $1.3 billion, for its second quarter ended March 31, 2008. That compared with net income of $188.9 million, or 64 cents per share, on revenue of $1.2 billion, for the same quarter in 2007.

Analysts were expecting the Houston company to have net earnings per share of 55 cents.