March 17, 2014

B&W REPORTS INCREASE IN REVENUE OF $100M IN SECOND QUARTER

By ExchangeMonitor

Babcock & Wilcox yesterday reported improved earnings for the second quarter of 2012, with revenue increasing $100 million over the same quarter in 2011. The company reported revenues of $852.6 million in the quarter ending June 30, adding up to $0.54 earnings per share, compared to $0.39 in the second quarter of 2011. However, B&W Technical Services, which holds the company’s contracts at Department of Energy sites, reported a slight decrease in revenue of $28.2 million when compared to $30.7 million in revenue in the same quarter in 2011.

Company officials said that advancements in its small modular reactor, as well as contracts for naval reactor technology, will lead to continued growth. “In the second quarter, the Company continued to perform in-line with expectations and is tracking well for the full year,” B&W President and Chief Executive Officer E. James Ferland said in a statement. “Bookings in the first half of the year have been strong, but volatile on a quarterly basis.” B&W executives will hold a call with investors today at 8:30 a.m.

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