Furmanite Q4 Profit Increases - Quick Facts

(RTTNews) - Furmanite Corp. (FRM) said that net income for the 2013 fourth quarter was $2.58 million, or $0.07 per share, up from $1.07 million or $0.03 per share in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.16 per share for the quarter. Analysts' estimates typically exclude special items.

Operating income for the quarter was $4.7 million compared to $4.2 million last year, an increase of $0.5 million.

Revenues for the quarter were $130.4 million, an increase of $37.2 million, or 39.9%, over the $93.2 million reported in the prior year.

The Company's annual revenues for 2014 are expected to be in the range of $540 million to $560 million. For the same period, net income available to common shareholders is expected to be in the range of $0.52 to $0.57 per diluted share. Street currently is looking for fiscal year 2014 earnings of $0.62 per share on annual revenues of $555.13 million.