SMITH INTERNATIONAL, INC.

                       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


                                 OCTOBER 1, 2002
                                 DATE OF REPORT
                        (Date of earliest event reported)



                            SMITH INTERNATIONAL, INC.
             (Exact name of Registrant as specified in its charter)



        DELAWARE                        1-8514                  95-3822631
(State or other jurisdiction of      (Commission             (I.R.S. Employer
 incorporation or organization)      File Number)           Identification No.)

                      411 N. SAM HOUSTON PARKWAY, SUITE 600
                                 HOUSTON, TEXAS
                    (Address of principal executive offices)


                                      77060
                                   (Zip Code)


                                 (281) 443-3370
              (Registrant's telephone number, including area code)




ITEM 5:  OTHER EVENTS

       A copy of the press release dated October 1, 2002, which includes the
Company's comments on third quarter 2002 outlook, is filed as Exhibit 99.1 and
is hereby incorporated herein by reference.


ITEM 7.  Financial Statements and Exhibits

(a)      Financial statements of businesses acquired

                  Not applicable.

(b)      Pro forma financial information

                  Not applicable.

(c)      Exhibits

         99.1     Press Release issued by the Registrant dated October 1, 2002.








                                   SIGNATURES

         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.

                                   SMITH INTERNATIONAL, INC.


                                   /s/ Neal S. Sutton
                                   -------------------------------------------

                                   By: Neal S. Sutton
                                       Senior Vice President - Administration,
                                       General Counsel and Secretary

Date:  October 4, 2002









                                  EXHIBIT INDEX


    EXHIBIT NO.         DESCRIPTION
    -----------         -----------
        99.1            Press Release dated October 1, 2002.