The Babcock & Wilcox Co. (BWC) Wednesday reported fourth-quarter net income of $39 million or $0.33 per share, compared with net loss of $63 million or $0.53 per share last year.
Results for the prior-year quarter included pension and other charges of $139 million.
Excluding items, adjusted earnings for the quarter were $67 million or $0.56 per share, compared with $76 million or $0.65 per share a year ago.
Revenues for the quarter were up 8% at $865 million, compared with $800.8 million a year ago.
Analysts polled by Thomson Reuters estimated earnings of $0.42 per share on revenues of $841.74 million for the quarter. Analysts' estimates typically exclude special items.
Power Generation segment revenues for the quarter rose 9%, on an increase in new-build environmental equipment revenues. Nuclear Operations segment revenues gained 12%, due to increased production of fuel for the naval reactor program and increased manufacturing of nuclear components for certain U.S. Government programs.
Nuclear Energy segment revenues meanwhile slid 3.7%, and Technical Services revenues was down 10.9%.
Looking ahead to fiscal year 2013, the company expects adjusted earnings of $2.25 to $2.45 per share on revenues of $3.40 billion to $3.55 billion for the
Analysts currently expect earnings of $2.10 per share on revenues of $3.48 billion for 2013.
North Carolina-based Babcock & Wilcox Co. provides clean energy technology and services for the nuclear, fossil, and renewable power markets.
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