Switzerland: Foster Wheeler Reports Results for Third Quarter of 2010

Foster Wheeler AG today reported net income for the third quarter of 2010 of $51.7 million, or $0.41 per diluted share, compared with $90.0 million, or $0.71 per diluted share, in the third quarter of 2009.

Net income in the third quarter of 2010 was $50.1 million, or $0.40 per diluted share, compared with $91.7 million, or $0.72 per diluted share, in the year-ago quarter. Third-quarter 2010 consolidated EBITDA (earnings before interest expense, income taxes, depreciation and amortization) was $87.2 million, compared with $128.2 million in the third quarter of 2009.

Consolidated EBITDA in the third quarter of 2010 was $85.5 million, compared with $129.9 million in the third quarter of 2009. For the first nine months of 2010, net income was $182.6 million, or $1.44 per diluted share, compared with $285.1 million, or $2.24 per diluted share, for the first nine months of 2009.

Consolidated EBITDA for the first nine months of 2010 was $288.7 million, compared with $395.7 million for the first nine months of 2009.

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Source: Foster Wheeler, November 4, 2010