Wednesday, January 27, 2010

Contact: Shawn Housley

              Director, Investor Relations 

              (281) 443-3370

              shousley@smith.com

Smith International, Inc. REPORTS

fourth QUARTER and fiscal year RESULTS

HOUSTON, Texas (January 27, 2010)... Smith International, Inc. (NYSE: SII) today announced fourth quarter net income of $20.1 million, or $0.09 per diluted share on revenue of $1.98 billion.   In comparison, third quarter of 2009 earnings from continuing operations, net of charges, were $14.8 million or $0.07 per diluted share on revenue of $1.88 billion, while in the comparable prior-year fourth quarter, earnings from continuing operations, net of charges, were $218.6 million on revenue of $3.06 billion.

Click here to read entire earnings release.