Foster Wheeler Q1 Net Profit Up - Quick Facts

(RTTNews) - Foster Wheeler AG (FWLT) Wednesday reported a rise in net earnings for the first quarter, in spite of a decline in revenues. Earnings included a net loss attributable to non-controlling interests.

In the period, net earnings attributable to the company rose to $17.07 million or $0.17 per share, from $13.03 million or $0.12 per share a year ago.

The company recorded a net loss attributable to non-controlling interests of $2.13 million, compared with a profit of $3.28 million a year earlier.

Adjusted earnings from continuing operations were $19.1 million or $0.19 per share, compared with $18.9 million or $0.18 per share a year earlier.

On average, eight analysts polled by Thomson-Reuters estimated the company's earnings to be $0.38 for the quarter. Analysts' estimated typically exclude one-time items.

For the three months to March, adjusted EBITDA increased to $46.77 million from $42.08 million a year ago.

Revenues for the 3-month period declined to $733.69 million from $790.14 million in the same quarter last year.