FMC Technologies 1Q Boosted by Subsea Technologies’ Orders

FMC Technologies 1Q Boosted by Subsea Technologies' Orders

FMC Technologies, Inc.,a U.S.-based provider of subsea systems and services to the global offshore oil and gas industry, yesterday reported first quarter 2013 revenue of $1.6 billion , up 18 percent from the prior-year quarter. Diluted earnings per share were $0.43 compared to $0.41 in the prior-year quarter.

Total inbound orders were $1.8 billion and included $1.2 billion in Subsea Technologies’ orders. Backlog for the Company was $5.4 billion , including Subsea Technologies’ backlog of $4.6 billion .

“We are pleased to report another quarter of strong subsea orders and revenue,” said John Gremp , Chairman and CEO of FMC Technologies . “Additionally, we are encouraged by the overall subsea industry awards this quarter and believe we are on pace for a record year.”

“Surface Technologies’ international surface wellhead business delivered strong performance again in the first quarter. We expect this to continue as activity in both the Middle East and Europe continues to grow.”

 April 24, 2013
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