February 25, 2010 / 11:22 PM / 8 years ago

UPDATE 1-Dresser-Rand Q4 profit lags estimates

* Q4 adj EPS $0.61 vs est. $0.66: Thomson Reuters I/B/E/S

* Q4 revenue falls 25 pct to $562.5 mln

* Sees forex loss of $14 mln in Q1

* Sees operating-income of $260-$300 mln for 2010

* To buyback shares of up to $200 mln

Feb 25 (Reuters) - Dresser-Rand Group Inc DRC.N, which makes equipment for the oil and gas industry, posted a fourth-quarter profit that missed estimates, hurt by lower bookings and a drop in backlog.

The company will incur a loss of about $14 million in the first quarter of 2010 due to the devaluation of the Bolivar by the Venezuelan government.

In the latest quarter, the company posted a net income of $41.4 million, or 50 cents a share, compared with $77.0 million, or 94 cents a share, a year ago.

Revenue fell 25 percent to $562.5 million.

Analysts, on average, were looking for earnings of 66 cents a share, before items, on revenue of $652.4 million, according to Thomson Reuters I/B/E/S.

Total bookings for the quarter fell 14 percent to $610.2 million, while total backlog fell 24 percent to $1.71 billion.

Shares of the Houston-based company fell 3 percent to $30.95 in after-hours trade. They closed at $31.85 Thursday on the New York Stock Exchange.

For the alerts, double-click [ID:nWNAB2337] (Reporting by Arundhati Ramanathan in Bangalore; Editing by Ratul Ray Chaudhuri)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below