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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form 8-K
CURRENT REPORT
Pursuant to Section 13 of 15(d) of the
Securities & Exchange Act of 1934
Date of Report: October 31, 1995
Date of Earliest Event Reported: October 31, 1995
FOSTER WHEELER CORPORATION
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(Exact name of registrant as specified in its charter)
New York 1-286-2 13-1855904
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(State or Other (Commission File Number) (IRS Employer
Jurisdiction of Identification No.)
Incorporation)
Perryville Corporate Park, Clinton, New Jersey 08809-4000
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(Address of principal executive offices)
(908) 730-4090
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(Registrant's telephone number)
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Item 5. Other Events.
On October 31, 1995, Foster Wheeler Corporation (the "Company")
released its earnings report for the third quarter ended September 29, 1995, as
set forth in Exhibit I attached hereto.
Item 7. Financial Statements and Exhibits
I. Earnings release for third quarter ended September 29, 1995.
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
FOSTER WHEELER CORPORATION
Date: October 31, 1995 By: /s/ Jack E. Dennes
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Jack E. Dennes
Vice President & Secretary
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EXHIBIT INDEX
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EXHIBIT SEQUENTIALLY NUMBERED
NO. PAGES
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<S> <C> <C>
I Earnings release for third quarter ended 1-4
September 29, 1995.
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EXHIBIT I
[LETTERHEAD FOSTER WHEELER]
NYSE:FWC
FOSTER WHEELER ANNOUNCES EARNINGS
Another Record Backlog of Orders
CLINTON, N.J., October 31, 1995 -- Foster Wheeler Corporation today reported
net earnings for the third quarter ended September 29, 1995 of $17,209,492, or
$.48 per share, on revenues of $787,613,333. Earnings for the third quarter of
1994 were $14,683,982, or $.41 per share, on revenues of $542,584,169.
Net earnings for the nine months ended September 29, 1995 were $53,979,511, or
$1.51 per share, on revenues of $2,117,488,218. Earnings for the first nine
months of 1994 were $46,745,581, or $1.31 per share, on revenues of
$1,600,183,860.
The backlog of orders for the Corporation as of September 29, 1995 totalled
$5,849,649,059, the highest in Foster Wheeler's history. Backlog at the end of
September 1994 was $4,471,469,310.
These financial results and backlog information do not include the impact of
Foster Wheeler's acquisition of Ahlstrom Pyropower announced October 2, 1995.
In addition, the Company expects that its $500 million shelf registration
statement filed with the Securities and Exchange Commission on August 14, 1995
will become effective today or shortly thereafter and that it will utilize a
portion thereof to offer common stock and debt securities. Any offering will
be made only by means of a prospectus.
Foster Wheeler Corporation is a global company offering a broad range of
design, engineering, construction, project development and management,
research, plant operations and environmental services. The Corporation's
headquarters are at Clinton, N.J.
CONSOLIDATED STATEMENT FOLLOWS...
CONTACT: RICHARD G. STRIPPEL (908) 713-3072 - RICHARD C. KROLL (908) 713-3070
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FOSTER WHEELER CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF EARNINGS -- SUMMARY
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<CAPTION>
Three Months Ended Nine Months Ended
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September 1995 September 1994 September 1995 September 1994
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<S> <C> <C> <C> <C>
Unfilled orders $5,849,649,059 $4,471,469,310 $5,849,649,059 $4,471,469,310
============== ============== ============== ==============
Revenues:
Operating revenues $ 779,937,745 $ 533,598,555 $2,094,663,688 $1,574,490,701
Other income 7,675,588 8,985,614 22,824,530 25,693,159
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Total revenues $ 787,613,333 $ 542,584,169 $2,117,488,218 $1,600,183,860
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Earnings before income taxes $ 30,827,823 $ 24,246,949 $ 86,884,740 $ 75,676,388
Provision for income taxes 13,618,331 9,562,967 32,905,229 28,930,807
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Net earnings $ 17,209,492 $ 14,683,982 $ 53,979,511 $ 46,745,581
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Earnings per share: $.48 $.41 $1.51 $1.31
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Common shares(a) 35,865,814 35,807,325 35,843,712 35,779,377
============== ============== ============== ==============
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(a) Weighted average number of common shares outstanding.
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Foster Wheeler Corporation and Subsidiaries
MAJOR BUSINESS GROUPS
(IN MILLIONS OF DOLLARS)
<TABLE>
<CAPTION>
FOR THE NINE MONTHS
Engineering Corporate
Ended and Energy Power and Financial
SEPTEMBER 29, 1995 Total Construction Equipment Systems Services
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<S> <C> <C> <C> <C> <C>
Unfilled orders $5,849.6 $4,361.7 $1,212.0 $244.9 $ 31.0
New orders booked 2,963.1 2,145.0 709.4 105.3 3.4
Revenues 2,117.5 1,564.0 436.4 115.6 1.5
Interest expense 34.2 1.0 5.7 18.4 9.1
Earnings before income taxes $ 86.9 $ 62.0 $ 36.9 $ 19.4 $(31.4)
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<CAPTION>
Engineering Corporate
Ended and Energy Power and Financial
SEPTEMBER 30, 1994 Total Construction Equipment Systems Services
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<S> <C> <C> <C> <C> <C>
Unfilled orders $4,471.5 $3,169.6 $1,008.4 $241.2 $ 52.3
New orders booked 2,313.9 1,603.8 567.8 138.3 4.0
Revenues 1,600.2 1,108.1 375.5 111.6 5.0
Interest expense 25.4 0.5 2.2 17.7 5.0
Earnings before income taxes $ 75.7 $ 52.8 $ 39.7 $ 12.0 $(28.8)
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Foster Wheeler Corporation and Subsidiaries
MAJOR BUSINESS GROUPS
(IN MILLIONS OF DOLLARS)
FOR THE THREE MONTHS
<TABLE>
<CAPTION>
Engineering Corporate
Ended and Energy Power and Financial
SEPTEMBER 29, 1995 Total Construction Equipment Systems Services
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<S> <C> <C> <C> <C> <C>
Unfilled orders $5,849.6 $4,361.7 $1,212.0 $244.9 $ 31.0
New orders booked 1,113.8 882.4 197.6 32.8 1.0
Revenues 787.6 579.5 167.7 38.3 2.1
Interest expense 11.8 0.3 2.5 6.1 2.9
Earnings before income taxes $ 30.8 $ 22.4 $ 12.2 $ 7.4 $(11.2)
<CAPTION>
Engineering Corporate
Ended and Energy Power and Financial
SEPTEMBER 30, 1994 Total Construction Equipment Systems Services
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<S> <C> <C> <C> <C> <C>
Unfilled orders $4,471.5 $3,169.6 $1,008.4 $241.2 $ 52.3
New orders booked 771.5 597.2 106.9 65.9 1.5
Revenues 542.6 376.1 124.4 36.1 6.0
Interest expense 8.7 0.2 0.8 6.1 1.6
Earnings before income taxes $ 24.3 $ 17.2 $ 12.3 $ 4.3 $ (9.5)
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