Loading...
Loading...

Foster Wheeler announces strong Q1 results

Foster Wheeler has announced Q1 2006 results for the period ended 31 March 2006.

Net earnings increased to $14.6m for the first quarter of 2006, compared with $1.2m in the first quarter of 2005. The Q1 net earnings include pre- and after-tax expenses of $1.8m, or three cents per basic share, as a result of the company’s adoption of SFAS No. 123R.

For the first quarter of 2006, operating revenues increased by 24 per cent to $645.8m, up from $523.1m a year ago. First-quarter 2006 EBITDA (earnings before income taxes, interest expense, depreciation and amortization) increased by 47 per cent to $45.9m, up from $31.2m in the first quarter of 2005.

New orders increased this quarter by 232 per cent to $1.53bn, up from $460m a year ago. The company continued to build backlog, which increased to $4.55bn at the end of the first quarter of 2006, up 23 per cent from $3.69bn at the end of the fourth quarter of 2005, and up 138 per cent from $1.91bn a year ago.

... to continue reading you must be subscribed

Subscribe Today

Paywall Asset Header Graphic

To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.

Please wait...
-->