This Day On The Street
Continue to site
ADVERTISEMENT
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

Fuel Tech Reports 2012 Fourth Quarter And Annual Financial Results

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 unaudited results for the three- and 12-month periods ended December 31, 2012.

Douglas G. Bailey, Chairman, President, and Chief Executive Officer, commented, “2012 was one of the more successful years in Fuel Tech’s history, highlighted by record revenues, record bookings and year-end backlog, and expansion into new territories. We ended the year with cash, cash equivalents, and marketable securities of $24.5 million, or $1.07 per diluted share, no short-term or long-term debt, and cash flow from operations of $8.7 million. Our strong financial position allowed us to return $7.9 million to our investors through our 2012 share repurchase plan and we invested $2.9 million in new product development.”

He continued, “Our Air Pollution Control (APC) segment was particularly strong in 2012, recording contract wins of $72.8 million, with much of this growth driven by our international markets. Our China-Pacific Rim business delivered solid year-over-year gains and, combined with APC’s historic $36.6 million combustion project in Chile, helped produce 2012 fourth quarter and full-year foreign revenue growth of 121% and 55%, respectively, over the comparable prior year periods. We believe that our success in gaining a foothold in new markets favors further APC growth. We are committed to further expanding our international presence as a means of both mitigating the impact of a dynamic domestic regulatory environment and addressing the expanding global need for emissions control solutions.

“Our FUEL CHEM ® business segment continues to face the challenges of low natural gas prices and reduced electricity demand. Despite lower revenues, FUEL CHEM substantially maintained its margins, which we view as a testament to the quality of our product solutions. Although we believe the macro issues facing this segment will resolve, we cannot predict when this will occur. We are continuing to pursue our pipeline of new customer, end market, and product opportunities.”

Fourth Quarter 2012

Revenues for the fourth quarter 2012 totaled $26.6 million, a 5% decrease from $28.0 million in last year’s fourth quarter. Higher APC revenues were offset by revenue declines at the FUEL CHEM segment.

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,374.76 +23.38 0.14%
S&P 500 1,951.13 +2.27 0.12%
NASDAQ 4,733.4970 -16.4820 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs