Foster Wheeler (NASDAQ: FWLT) Reports EPS of $0.56 vs. $0.38 Estimate

Foster Wheeler AG FWLT today reported net income for the first quarter of 2011 of $23.0 million, or $0.18 per diluted share, compared with $72.1 million, or $0.56 per diluted share, in the first quarter of 2010. Net income in both quarterly periods was impacted by items as detailed in the attached table. Excluding such items from both quarterly periods, net income in the first quarter of 2011 was $23.4 million, or $0.19 per diluted share, compared with $71.3 million, or $0.56 per diluted share, in the year-ago quarter.