Diluted earnings per share from continuing operations were $0.70, up 49% from $0.47 per diluted share in the prior-year quarter.
Inbound orders for the company in the quarter totaled $2.5 billion, of which $2 billion was in subsea systems primarily driven by the Total Pazflor award which has a value of approximately $980 million. Backlog reached $4.9 billion, including a record $3.9 billion for subsea systems, the company said.
According to FMC Technologies, full year 2007 revenue of $4.6 billion increased 23% from $3.8 billion in 2006, reflecting the continued growth of the firm’s energy systems’ businesses led by a 28% increase in subsea systems revenue.
Full year 2007 earnings per diluted share from continuing operations of $2.30 were up 53% from 2006 earnings per diluted share of $1.50. Energy systems’ division’s operating profit increased 47% over the prior year.
