FMC Technologies Increases Revenue to $4.6 Billion for 2007, Up 23%
FMC Technologies reported a full year 2007 revenue of $4.6 billion increased 23 percent from $3.8 billion in 2006, reflecting the continued growth of Energy Systems' businesses led by a 28 percent increase in subsea systems revenue.
Full year 2007 earnings per diluted share from continuing operations of $2.30 were up 53 percent from 2006 earnings per diluted share of $1.50. Energy Systems' operating profit increased 47 percent over the prior year.
Inbound orders totaled $6.9 billion up 52 percent over 2006 primarily on record subsea inbound orders of $4.4 billion. Total company backlog grew to $4.9 billion.
"We are very pleased with our results in 2007," said Peter D. Kinnear, President and Chief Executive Officer. "We enter 2008 with a record backlog of $4.9 billion providing a solid base for continued growth this year and beyond. We are providing a full year estimate of 2008 diluted earnings per share in the range of $2.75 to $2.85 including FoodTech and Airport Systems, but excluding costs associated with the planned spin-off."
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