Foster Wheeler reports fourth-quarter and full-year results

Engineering and construction contractor Foster Wheeler has reported net income for the fourth quarter of 2010 of $32.8m (£20.3m), or $0.26 per diluted share, compared with $65.1m, or $0.51 per diluted share, in the same period in 2009.

Fourth-quarter 2010 consolidated earnings before interest expense, income taxes, depreciation and amortisation (EBITDA) was $71m, compared with $108m in the fourth quarter of the previous year.

For the full year 2010, net income was $215.4m, or $1.70 per diluted share, compared with $350.2m, or $2.75 per diluted share, in 2009.

Consolidated EBITDA for 2010 was $359.7m, compared with $503.8m in 2009.