Date: March 20, 2003
Source: News Room
Foster Wheeler Ltd. (NYSE: FWC) has reported results for the fourth quarter 2002 and the year. Results for both periods were dominated by restructuring and special charges. Revenues for the fourth quarter 2002 totaled $995.4 million. The company reported a net loss of $112.1 million, or $2.73 per share. Excluding all special charges, net income for the quarter was $5.4 million, or $0.13 per share diluted. These results compare to revenues of $1,034.9 million in the year-ago quarter, and a net loss of $343.1 million, or $8.39 per share. Cash balances worldwide at year-end were $429 million, compared to $224 million at year-end 2001. As of December 27, 2002, the company's indebtedness was $1.1 billion, compared to $1.0 billion at year-end 2001.
More information: www.fwc.com.
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