FMC Technologies Posts Lower Q4 Profit

(RTTNews) - FMC Technologies, Inc. (FTI) reported net income for the fourth quarter of $168.6 million or $0.72 per share, compared to $177.8 million or $0.74 per share for the year-ago quarter.

The latest quarter results include a pre-tax $24.9 million charge, or $0.07 per share, related to costs associated with actions taken to de-risk the company's U.S. defined benefit pension plan and a $25.5 million foreign currency loss, or $0.09 per share, due to the further strengthening of the U.S. dollar.

Revenue for the fourth quarter rose 5% to $2.16 billion from $2.05 billion a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.79 per share on revenue of $2.09 billion for the fourth quarter. Analysts' estimates typically exclude special items.