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| Foster Wheeler reports results for 2Q of 2010 US engineering giant Foster Wheeler AG reported net income for the second quarter of 2010 of $58.9 million, or $0.46 per diluted share, compared with $122.2 million, or $0.96 per diluted share, in the second quarter of 2009. Net income in both quarterly periods was impacted by asbestos-related provisions as detailed in the attached table. Excluding such items from both quarterly periods, net income in the second quarter of 2010 was $61.2 million, or $0.48 per diluted share, compared with $124.0 million, or $0.98 per diluted share, in the year-ago quarter. Second-quarter 2010 consolidated EBITDA (earnings before interest expense, income taxes, depreciation and amortization) was $90.2 million, compared with $162.0 million in the second quarter of 2009. Consolidated EBITDA in both quarterly periods was also impacted by asbestos-related provisions as detailed in the attached table. Excluding such items from both quarterly periods, consolidated EBITDA in the second quarter of 2010 was $92.6 million, compared with $163.7 million the second quarter of 2009. For the first six months of 2010, net income was $130.9 million, or $1.02 per diluted share, compared with $195.1 million, or $1.54 per diluted share, for the first six months of 2009. Consolidated EBITDA for the first six months of 2010 was $201.5 million, compared with $267.5 million for the first six months of 2009. The six-month periods of 2010 and 2009 included asbestos-related provisions as detailed in the attached table. write your comments about the article :: © 2010 Construction News :: home page |