Foster Wheeler Blowout

It blasts estimates.
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Foster Wheeler (FWLT) blew away Wall Street estimates as it swung to a third-quarter profit.

The construction company made $76 million, or $1.07 a share, for the quarter ended Sept. 29, reversing the year-ago loss of $16 million, or 35 cents a share. Excluding certain items, latest-quarter earnings were 77 cents a share.

Revenue surged to $910 million from $533 million a year earlier.

Analysts surveyed by Thomson Financial were looking for a 49-cent profit on sales of $740 million.

Bookings rose 5% to $925 million. Backlog, measured in scope, continued to grow, increasing by 53% from a year ago to $3 billion.