FMC Revenue Up 11 Pct

FMC Technologies reported fourth quarter 2013 revenue of $2.0 billion, up 11 percent from the prior-year quarter.  

Total inbound orders were $1.8 billion and included $1.0 billion in Subsea Technologies orders.  Backlog for the company was $7.0 billion, including Subsea Technologies backlog of $6.0 billion.

Full Year 2013 Results

Total company revenue for 2013 was $7.1 billion, and operating profit was $879.6 million.

“We are pleased to report our twelfth consecutive year of earnings growth. Diluted earnings per share of $2.10 increased 18 percent year over year,” said John Gremp, Chairman, President and CEO of FMC Technologies. “We delivered record quarterly subsea revenue and operating profit on improved execution in the fourth quarter.  For 2014, we expect to see another year of subsea revenue growth along with margin expansion for Subsea Technologies as the outlook for activity remains strong.”

“In Surface Technologies our international surface wellhead business continues to deliver exceptional results. We have strengthened our position in strategic international markets and expect strong operational performance to continue into 2014.”

Press Release, February 7, 2014