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!

Furmanite Corporation Reports Fourth Quarter And Full Year 2013 Results

Furmanite Corporation (NYSE:FRM) today reported results for the three and twelve months ended December 31, 2013.

Fourth Quarter 2013 Results

Revenues for the three months ended December 31, 2013 were $130.4 million, an increase of $37.2 million, or 39.9%, over the $93.2 million reported for the three months ended December 31, 2012. Operating income for the three months ended December 31, 2013 was $4.7 million compared to $4.2 million for the three months ended December 31, 2012, an increase of $0.5 million. Net income for the 2013 fourth quarter was $2.6 million, or $0.07 per diluted share.

Year Ended December 31, 2013 Results

Revenues for the twelve months ended December 31, 2013 were $427.3 million compared with $326.5 million for the twelve months ended December 31, 2012, an increase of $100.8 million, or 30.9%. Operating income for the twelve months ended December 31, 2013 was $24.8 million, an increase of $17.3 million over the corresponding prior year period of $7.5 million. Net income for the twelve months ended December 31, 2013 was $14.0 million, or $0.37 per diluted share.

Foreign currency effects had an unfavorable impact on revenues for both the three and twelve months ended December 31, 2013 of approximately $0.7 million and $2.5 million, respectively, as well as an unfavorable impact on operating income for the three and twelve months ended December 31, 2013 of approximately $0.2 million and $0.6 million, respectively.

Charles R. Cox, Chairman and CEO of Furmanite Corporation said, “We are very pleased with our revenue and earnings growth for this year, as well as our continued progress in the transformation of Furmanite! We have also now initiated our efforts to realize the substantial synergy available through the 900 engineering and project execution professionals who joined Furmanite as part of the ENGlobal asset acquisition completed last September!”

1 of 4

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 16,690.45 -189.91 -1.12%
S&P 500 1,943.83 -26.24 -1.33%
NASDAQ 4,389.05 -73.8520 -1.65%

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