Foster Wheeler Corp. announces record second-quarter earnings.CLINTON Clinton.1 Town (1990 pop. 12,767), Middlesex co., S Conn., on Long Island Sound; settled 1663, set off from Killingworth and inc. 1838. The school that later became Yale opened here in 1702. , N.J.--(BUSINESS WIRE)--July 30, 1996--Foster Wheeler Corp. today reported net earnings for the second quarter ended June June: see month. 28, 1996 of $25.1 million, or 62 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , on revenues of $979.2 million. Net earnings for the second quarter of 1995 were $18.9 million, or 53 cents per share, on revenues of $686.2 million. Net earnings for the six months ended June 28, 1996 were $48.5 million, or $1.20 per share, on revenues of $1.8 billion. Net earnings for the first six months of 1995 were $36.8 million, or $1.03 per share, on revenues of $1.3 billion. The backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. of orders for the Corporation as of June 28, 1996 totaled $6.8 billion. Backlog at the end of June 1995 was $5.6 billion. New orders booked for the first six months of 1996 were at an all-time all-time adj. Exceeding all others up to the present time: an all-time speed skating record. all-time Adjective Informal high of $2.7 billion. New orders booked for the first six months of 1995 were $1.8 billion. Foster Wheeler Corp. is a global company offering a broad range of design, engineering, construction, manufacturing, project development and management, research, plant operations and environmental services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, . The Corporation's headquarters are at Clinton. -0-
Foster Wheeler Corporation and Subsidiaries
Consolidated Statement of Earnings - Summary
Three Months Ended Six Months Ended
June 1996 June 1995 June 1996 June 1995
Unfilled orders $6,772,027,400 $5,635,588,560 $6,772,027,400 $5,635,588,560 Revenues: Operating revenues $ 970,534,929 $ 678,733,471 $1,814,451,438 $1,314,725,943 Other income 8,668,803 7,496,853 19,175,626 15,148,942 Total revenues $ 979,203,732 $ 686,230,324 $1,833,627,064 $1,329,874,885 Earnings before income taxes $38,696,910 $ 27,828,090 $ 74,404,196 $ 56,056,917 Provision for income taxes 13,632,511 8,937,800 25,903,415 19,286,898 Net earnings $ 25,064,399 $ 18,890,290 $ 48,500,781 $ 36,770,019 Earnings per share: $ .62 $.53 $1.20 $1.03 Common shares (a) 40,596,135 35,846,274 40,554,405 35,832,661 (a) Weighted average number of common shares outstanding. CONTACT: Foster Wheeler Corp. Harry Levy, 908/713-3074 or Richard Ri·chard , Joseph Henri Maurice Known as "Rocket." 1921-2000. Canadian hockey player. A right wing for the Montreal Canadiens (1942-1960), he led his team to eight Stanley Cup championships and was the first player to score 50 goals in a C. Kroll, 908/713-3070 |
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