Thursday, December 30, 2010

foster wheeler prospects for 2011

foster wheeler prospects for 2011 : Foster Wheeler AG has reported net income for the third quarter 2010 of $51.7m, or $0.41 per diluted share. This compares with $90m, or $0.71 per diluted share, in the same quarter of 2009. Accordingly adjusted net income for both quarterly periods was $50.1m, or $0.40 per diluted share in 2010 and $91.7m, which corresponds to $0.72 per diluted share in 2009.

Third quarter 2010 consolidated earnings before interest expense, income taxes, depreciation and amortization (EBITDA) was $87.2m, which contrasts against $128.2m from the respective period of 2009. Similarly, consolidated EBITDA in the third quarter of 2010 was $85.5m, compared with $129.9m in Q3 of 2009.

Meanwhile, with regard to 2011 prospects, della Sala added, “Due to the lagging impact of the competitive conditions under which contracts have been awarded in 2010, it is likely that EBITDA margins in both of our operating groups will be lower in 2011 than in 2010. However, if proposal activities and client inquiry levels continue to remain high, we could very well see an increase in scope revenues in 2011 as compared to 2010.”

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