Prepared By R.R. Donnelley Financial -- Form 8-K

UNITED STATES

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

Date Of Report (Date Of Earliest Event Reported): 01/26/2005

BJ Services Company

(Exact Name of Registrant as Specified in its Charter)

Commission File Number: 1-10570

DE		63-0084140
(State or Other Jurisdiction of		(I.R.S. Employer
Incorporation or Organization)		Identification No.)

5500 Northwest Central Drive, Houston, TX 77092

(Address of Principal Executive Offices, Including Zip Code)

713-895-5631

(Registrant’s Telephone Number, Including Area Code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act(17CFR240.14a-12)

[  ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act(17CFR240.14d-2(b))

[  ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17CFR240.13e-4(c))

Items to be Included in this Report

Item 2.02. Results of Operations and Financial Condition

BJ Services Company (BJS-NYSE, CBOE, PCX) announced today that it has filed its Annual Report on Form 10-K for the fiscal year ended September 30, 2004. A copy of the press release is attached as Exhibit 99.1 hereto and is hereby incorporated herein by reference.

The information in this report is being furnished pursuant to Item 2.02 of Form 8-K. Accordingly, the information in Item 2.02 of this report and Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be deemed incorporated by reference into any filing by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.

This report contains forward-looking statements within the meaning of the Securities Litigation Reform Act that involve risks and uncertainties, including oil and gas price volatility, variations in demand for our services, operational and other risks, and other factors describ ed from time to time in the Company's publicly available SEC reports, which could cause actual results to differ materially from those indicated in the forward-looking statements. In this report, the words "expect," "estimate," "project," "believe," "achievable" and similar words are intended to identify forward-looking statements.

Signature(s)

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.

		BJ Services Company


Date: January 26, 2005.	By:	/s/ Margaret Shannon
		Margaret Shannon
		Vice President, General Counsel and Secretary

Exhibit Index

Exhibit No.		Description
EX-99.1		Press release announcing filing of Form 10-K

EX-99.1 2 rrd66175_3416.htm PRESS RELEASE ANNOUNCING FILING OF FORM 10-K

Press Release
Contact: Trey Whichard (713) 462-4239
Release: Immediately

BJ SERVICES COMPANY ANNOUNCES FILING OF

ITS ANNUAL REPORT ON FORM 10-K

Houston, Texas. January 26, 2005. BJ Services Company (BJS-NYSE, CBOE, PCX) announced today that is has filed its Annual Report on Form 10-K for the fiscal year ended September 30, 2004.

The Company has conducted a comprehensive review of the Asia Pacific Region's balance sheet and we have determined that excess liabilities had accumulated over a period of years which still existed at September 30, 2004 in the amount of $12.2 million. The net effect of these adjustments has been reported in Other Income in the Consolidated Statement of Operations for the year ended September 30, 2004. The following table provides a summary of consolidated results of operations for the three and twelve months ended September 30, 2004, as adjusted compared with the consolidated results of operations for the three and twelve months ended September 30, 2004 as reported by the Company on November 2, 2004:

	Three Months Ended		Twelve Months Ended
	As Reported	As Adjusted	As Reported	As Adjusted
	9/30/04	9/30/04	9/30/04	9/30/04
	(In thousands except per share data)
Revenue	$ 694,465	$ 694,465	$ 2,600,986	$ 2,600,986
Total operating expenses	570,491	567,721⁽¹⁾	2,165,371	2,162,601
Operating income	123,974	126,744	435,615	438,385
Interest expense	(4,068)	(4,068)	(16,389)	(16,389)
Interest income	3,076	3,076	6,073	6,073
Other income/(expense), net	224	9,660⁽¹⁾	83,232	92,668
Income before income taxes	123,206	135,412	508,531	520,737
Income tax expense	37,604	38,434	158,866	159,696
Net income	$ 85,602	$ 96,978	$ 349,665	$ 361,041
Earnings Per Share:
Basic	$0.53	$0.60	$2.18	$2.25
Diluted	$0.52	$0.59	$2.14	$2.21

Includes a $2.8 million income statement reclassification, which had no impact on net income and is unrelated to the Asia Pacific Region adjustments.

A more detailed description of the adjustments is disclosed in Item 7 of the Company's Annual Report on Form 10-K for the period ended September 30, 2004.

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This press release contains forward-looking statements. These forward-looking statements anticipate future performance such as the Company's prospects, expected revenues, and expenses and profits. These forward-looking statements are based on assumptions that may prove to be inaccurate, and they are subject to risks and uncertainties that may cause actual results to differ materially from expected results. These risk factors include, without limitation, general global business and economic conditions, drilling activity and rig count, pricing volatility for oil and gas, reduction in demand for our services and products, risks from operating hazards such as fire, explosion and oil spills, unexpected litigation for which insurance and customer agreements do not provide complete protection, changes in exchange rates and declines in the U.S. dollar, and risks associated with our international operations, including potential instability and hostilities. This list of risk factors is not intend ed to be comprehensive. More extensive information concerning risk factors may be found in the Company's public filings with the Securities and Exchange Commission.

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BJ Services Company is a leading provider of pressure pumping and other oilfield services to the petroleum industry.

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(NOT INTENDED FOR DISTRIBUTION TO BENEFICIAL OWNERS)

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