Fourth Quarter Performance Yields 28% Increase for FMC
FMC Technologies, Inc. reported fourth quarter 2007 revenue of $1.4 billion, up 28 percent over the fourth quarter of 2006 led by the strength of its subsea systems business. Diluted earnings per share from continuing operations were $0.70, up 49 percent from $0.47 per diluted share in the prior-year quarter.
Inbound orders for the company in the quarter totaled $2.5 billion, of which $2.0 billion was in subsea systems primarily driven by the Total Pazflor award which had a value of approximately $980 million. Backlog reached $4.9 billion, including a record $3.9 billion for subsea systems.
Operating profit in Energy Systems was strong, up 66 percent in both Energy Production Systems and Energy Processing Systems from the prior-year quarter. Operating profit in FoodTech and Airport Systems was up 39 percent and 12 percent respectively from the prior-year quarter.
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Rooftop Solar Now 4th Largest Source of Electricity in Australia
- US Confirms Reimposition of Oil Sanctions against Venezuela
- Analyst Says USA Influence on Middle East Seems to be Fading
- EU, Industry Players Ink Charter to Meet Solar Energy Targets
- Russian Ships to Remain Banned from US Ports
- Brazil Court Reinstates Petrobras Chair to Divided Board
- EIB Lends $425.7 Million for Thuringia's Grid Upgrades
- Var Energi Confirms Oil Discovery in Ringhorne
- Seatrium, Shell Strengthen Floating Production Systems Collaboration
- An Already Bad Situation in the Red Sea Just Got Worse
- What's Next for Oil? Analysts Weigh In After Iran's Attack
- USA Regional Banks Dramatically Step Up Loans to Oil and Gas
- EIA Raises WTI Oil Price Forecasts
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Venezuela Authorities Arrest Two Senior Energy Officials
- Namibia Expects FID on Potential Major Oil Discovery by Yearend
- Oil Markets Were Already Positioned for Iran Attack
- Is The Iran Nuclear Deal Revival Project Dead?
- Petrobras Chairman Suspended
- Oil and Gas Executives Predict WTI Oil Price
- An Already Bad Situation in the Red Sea Just Got Worse
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil and Gas Execs Reveal Where They See Henry Hub Price Heading
- Equinor Makes Discovery in North Sea
- Macquarie Strategists Warn of Large Oil Price Correction
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Standard Chartered Reiterates $94 Brent Call
- Chevron, Hess Confident Embattled Merger Will Close Mid-2024
- Analysts Flag 'Remarkable Feature' of 2024 Oil Price Rally