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Foster Wheeler announces earnings; Another record backlog of orders.

CLINTON, N.J.--(BUSINESS WIRE)--Oct. 31, 1995--Foster Wheeler Corp. today reported net earnings for the third quarter ended Sept. 29, 1995 of $17,209,492 or $.48 per share, on revenues of $787,613,333.

Earnings for the third quarter of 1994 were $14,683,982, or $.41 per share, on revenues of $542,584,169.

Net earnings for the nine months ended Sept. 29, 1995 were $53,979,511 or $1.51 per share, on revenues of $2,117,488,218. Earnings for the first nine months of 1994 were $46,745,581 or $1.31 per share, on revenues of $1,600,183,860.

The backlog of orders for the corporation as of Sept. 29, 1995 totalled $5,849,649,059, the highest in Foster Wheeler's history. Backlog at the end of September 1994 was $4,471,469,310.

These financial results and backlog information do not include the impact of Foster Wheeler's acquisition of Ahlstrom Pyropower announced Oct. 2, 1995.

In addition, the company expects that its $500 million shelf registration statement filed with the Securities and Exchange Commission on Aug. 14, 1995 will become effective today or shortly thereafter and that it will utilize a portion thereof to offer common stock and debt securities. Any offering will be made only by means of a prospectus.

Foster Wheeler Corp. is a global company offering a broad range of design, engineering, construction, project development and management, research, plant operations and environmental services. The corporation's headquarters are at Clinton. -0-
 Foster Wheeler Corp. and Subsidiaries
 Consolidated Statement of Earnings -- Summary


 Three Months Ended
 Sept. 1995 Sept. 1994


Unfilled
 orders $5,849,649,059 $4,471,469,310


Revenues:
 Operating revenues 779,937,745 533,598,555
 Other income 7,675,588 8,985,614


Total revenues $787,613,333 $542,584,169


Earnings before
 income taxes 30,827,823 24,246,949
Provision for
 income taxes 13,618,331 9,562,967
Net earnings $17,209,492 $14,683,982
Earnings per share $.48 $.41
Common shares (a) 35,865,814 35,807,325




 Nine Months Ended
 Sept. 1995 Sept. 1994


Unfilled
 orders $5,849,649,059 $4,471,469,310


Revenues:
 Operating revenues 2,094,663,688 1,574,490,701
 Other income 22,824,530 25,693,159


Total revenues $2,117,488,218 $1,600,183,860


Earnings before
 income taxes 86,884,740 75,676,388
Provision for
 income taxes 32,905,229 28,930,807
Net earnings $53,979,511 $46,745,581
Earnings per share $1.51 $1.31
Common shares (a) 35,843,712 35,779,377


(a) Weighted average number of common shares outstanding.


CONTACT: Foster Wheeler Corp.

Richard G. Strippel, 908/713-3072 or

Richard C. Kroll, 908/713-3070
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Copyright 1995, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Oct 31, 1995
Words:459
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