This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Fuel Tech Reports 2011 Fourth Quarter And Annual Financial Results; Records Achieved In Backlog, APC Announced Bookings And Annual Revenues And Operating Income

Fuel Tech, Inc. (NASDAQ: FTEK), a world leader in advanced engineering solutions for the optimization of combustion systems and emissions control in utility and industrial applications, today reported results for the three- and 12-month periods ended December 31, 2011.

Fourth Quarter 2011

Revenues for the fourth quarter totaled $28.0 million, a 12% increase from the comparable prior-year quarter. Net income for the quarter was $1.7 million, or $0.07 per diluted share, compared with net income of $1.0 million, or $0.04 per diluted share, in the same year-ago quarter. Adjusted EBITDA was $4.4 million, up from $3.8 million in the fourth quarter of 2010.

The Air Pollution Control technology segment (APC segment) recorded revenues of $18.0 million, an increase of 37% versus the fourth quarter of 2010. Segment gross margins were 44% in the fourth quarter of 2011 versus the 32% reported in the fourth quarter of 2010, primarily due to a mix of higher margin capital projects.

The FUEL CHEM ® technology segment (FUEL CHEM segment) generated revenues of $10.0 million, a decrease of 15% from the comparable 2010 quarter. Current quarter revenues include $9.2 million from coal-fired units, a 16% decrease versus a year ago, and $1.6 million from non-coal-fired units, up 7% from the comparable prior-year quarter, reflecting lower sales to coal-fired units as reduced electrical loads and the low cost of natural gas suppressed the use of coal as a fuel source. Segment gross margins increased from 51% in the fourth quarter of 2010 to 54% in the current quarter due to strong performance at existing legacy accounts.

Selling, general and administrative (SG&A) expenses totaled $9.8 million in the current quarter versus $7.6 million in the same year-ago period. In addition to increases in expenses related to sales commissions and employee incentive programs directly attributed to favorable results for the quarter, fees to outside service providers and cost associated with foreign operations increased in the current quarter.

1 of 7

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,086.63 -26.91 -0.16%
S&P 500 1,987.01 +3.48 0.18%
NASDAQ 4,473.6970 +17.6810 0.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs