June 2008 -- FMC Technologies Inc.'s energy businesses sent the Houston manufacturer's 2007 revenues soaring.
Revenue for the year grew by 23% over 2006 to reach $4.6 billion, reflecting growth of its
energy systems' businesses.
FMC Technologies manufactures technologically sophisticated systems and products such as subsea
production and processing systems, surface wellhead systems, high-pressure fluid control
equipment and marine loading systems for the oil and gas industry. The company also makes food
processing equipment for the food industry and specialized equipment for the aviation industry.
According to FMC Technologies, revenue from its Energy Production Systems grew 28% to $2.9
billion, spurred by subsea systems revenue of $2.3 billion. Energy Processing Systems' revenue
was up 14% over 2006 to reach $767.7 million in 2007.
Net income for 2007 was $302.8 million, up from $276.3 million. Diluted earnings per share for
the full year were $2.26, compared with $1.97 in 2006.
Peter Kinnear, president and CEO of FMC Technologies, predicted another strong year in 2008. "We
enter 2008 with a record backlog of $4.9 billion providing a solid base for continued growth
this year and beyond."
In 2007, capital expenditures of $202.5 million were up $64.4 million from 2006. The increase
was due mainly to capacity expansions in Energy Systems and investment in subsea intervention
systems.
