FMC boosts profits on strong subsea demand

Subsea: strong segment boosts FMC

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Luke Johnson

 24 July 2012 21:45 GMT

FMC Technologies posted improved profits and revenues on the back of a strong performance by its subsea segment.

The company reported a 22% increase in revenue at $1.5 billion, leading to income of $111.9 million for the three months ending in June.

That compared with revenues of $1.2 billion for income of $94.3 million in the same period last year.

Total inbound orders for FMC came to $1.4 billion and were led by $878.2 million in subsea-technologies orders.

The company also posted a backlog of $5.2 billion, $4.3 billion of which was from subsea technologies.

"We saw improvement in Subsea Technologies' margin this quarter and are confident we will continue to see margins increase during the remainder…

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