FMC Technologies announces third quarter 2015 impairment charge
October 19, 2015
HOUSTON, Oct. 19, 2015 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) today announced that its third quarter 2015 results will include a pre-tax, non-cash charge of $60.2 million primarily related to the impairment of tangible and intangible assets and goodwill of its Surface Technologies' Canadian operations. The impaired Canadian assets are linked to the 2012 acquisition of Pure Energy Services Ltd. and due to the prolonged decline in market activity.
The Company's third quarter 2015 results will include a net income charge of $45.4 million, or $0.20 per diluted earnings per share, for the impairment.
About FMC Technologies
FMC Technologies, Inc. is the global market leader in subsea systems and a leading provider of technologies and services to the oil and gas industry. We help our customers overcome their most difficult challenges, such as improving shale and subsea infrastructures and operations to reduce cost, maintain uptime, and maximize oil and gas recovery. Named by Forbes® Magazine as one of the World's Most Innovative Companies in 2013, the company has approximately 18,500 employees and operates 24 production facilities in 14 countries. Visit http://www.fmctechnologies.com or follow us on Twitter @FMC_Tech for more information.