Oil and gas drilling equipment maker FMC Technologies Inc. said on Tuesday that its fourth-quarter profit rose slightly as revenue increased in its subsea systems unit.
The company earned $93.2 million, or 75 cents per share, during the quarter ended Dec. 31. During the same period a year before, it earned $91.3 million, or 72 cents per share.
Revenue fell 3.7 percent to $1.16 billion from $1.21 billion.
The results beat the estimate of analysts surveyed by Thomson Reuters, who forecast profit of 74 cents per share on revenue of $1.09 billion.
Revenue in FMC's subsea systems unit, which makes equipment for exploring and drilling offshore oil and gas fields, rose 4 percent to $822 million for the quarter.
For the full year, income was $361.8 million, or $2.88 per share, on revenue of $4.41 billion. In 2008, FMC earned $361.3 million, or $2.78 per share, on revenue of $4.55 billion.
The company said it expects 2010 earnings of $2.45 to $2.65 per share. Analysts forecast income of $2.50 per share.
FMC also said it expects 2010 revenue to be "slightly lower" than in 2009. Analysts predict revenue of $4.06 billion for 2010.
Source : http://www.businessweek.com/ap/financialnews/D9DTIKGO1.htm
The company earned $93.2 million, or 75 cents per share, during the quarter ended Dec. 31. During the same period a year before, it earned $91.3 million, or 72 cents per share.
Revenue fell 3.7 percent to $1.16 billion from $1.21 billion.
The results beat the estimate of analysts surveyed by Thomson Reuters, who forecast profit of 74 cents per share on revenue of $1.09 billion.
Revenue in FMC's subsea systems unit, which makes equipment for exploring and drilling offshore oil and gas fields, rose 4 percent to $822 million for the quarter.
For the full year, income was $361.8 million, or $2.88 per share, on revenue of $4.41 billion. In 2008, FMC earned $361.3 million, or $2.78 per share, on revenue of $4.55 billion.
The company said it expects 2010 earnings of $2.45 to $2.65 per share. Analysts forecast income of $2.50 per share.
FMC also said it expects 2010 revenue to be "slightly lower" than in 2009. Analysts predict revenue of $4.06 billion for 2010.
Source : http://www.businessweek.com/ap/financialnews/D9DTIKGO1.htm
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