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Wednesday, November 04, 2009
Foster Wheeler Third-quarter Profit Falls 30%
By William L. Watts
MarketWatch Pulse
LONDON -- Foster Wheeler AG on Wednesday reported third-quarter net income of $90 million, or 71 cents a share, compared to $127.9 million, or 88 cents a share, in the same period last year. Excluding special items, net income was $91.7 million, or 72 cents a share, the engineering and construction firm said. A survey of analysts by FactSet Research had produced a consensus estimate of 63 cents a share. Foster Wheeler said operating revenues fell 29% to $1.22 billion.
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