Last $7.38 USD
Change Today +0.09 / 1.23%
Volume 80.2K
FRM On Other Exchanges
Symbol
Exchange
Berlin
New York
As of 4:15 PM 12/18/14 All times are local (Market data is delayed by at least 15 minutes).

furmanite corp (FRM) Snapshot

Open
$7.37
Previous Close
$7.29
Day High
$7.40
Day Low
$7.27
52 Week High
01/13/14 - $12.70
52 Week Low
11/3/14 - $5.75
Market Cap
278.0M
Average Volume 10 Days
206.4K
EPS TTM
$0.25
Shares Outstanding
37.7M
EX-Date
08/12/86
P/E TM
29.3x
Dividend
--
Dividend Yield
--
Current Stock Chart for FURMANITE CORP (FRM)

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furmanite corp (FRM) Details

Furmanite Corporation, together with its subsidiaries, provides specialized technical services. It operates in two segments, Technical Services and Engineering & Project Solutions. The Technical Services segment offers on-line services, including leak sealing, hot tapping, line stopping, line isolation, composite repair, valve testing, and non-destructive testing and inspection; off-line services, such as on-site machining, heat treatment, bolting, valve repair, and other non-destructive testing and inspection services; and other services comprising smart shim services, concrete repair, engineering services, valve and other products, and manufacturing. This segment offers its services and products primarily to petroleum refineries, chemical plants, pipelines, offshore drilling and production platforms, steel mills, food and beverage processing facilities, power generation, and other flow-process industries. The Engineering & Project Solutions segment provides project planning, professional engineering, downstream non-destructive testing and inspection, construction management, mechanical integrity, field support, quality assurance, plant asset management, and other inspection and project management services. This segment offers its services to refining and petrochemical operators, as well as maintenance, and engineering and construction contractors servicing the downstream and midstream oil and gas markets. Furmanite Corporation operates in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company was formerly known as Xanser Corporation and changed its name to Furmanite Corporation in May 2007. Furmanite Corporation was founded in 1952 and is headquartered in Houston, Texas.

3,110 Employees
Last Reported Date: 03/7/14
Founded in 1952

furmanite corp (FRM) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $465.2K
President and Chief Operating Officer
Total Annual Compensation: $412.7K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $263.6K
Secretary and General Councel
Total Annual Compensation: $246.2K
Compensation as of Fiscal Year 2013.

furmanite corp (FRM) Key Developments

BDO USA, LLP Replaces UHY LLP as Independent Registered Public Accounting Firm of Furmanite Corporation for the Fiscal Year Ending December 31, 2014

The audit committee of Furmanite Corporation's board of directors selected UHY LLP to serve as the company's independent registered public accounting firm for the fiscal year ending December 31, 2014, which was ratified by shareholders in May 2014. On December 1, 2014, UHY LLP informed the company that effective on that date, its Texas practice had been acquired by BDO USA, LLP. As a result of this transaction, on December 1, 2014, UHY resigned as the company's independent registered public accounting firm for the fiscal year ending December 31, 2014. As a result of the transaction, the audit committee appointed BDO USA, LLP as the successor independent registered public accounting firm on December 3, 2014.

Furmanite Corporation Announces Executive Changes

The Board of Directors of Furmanite Corporation announced that Joseph E. Milliron has been named the company's next Chief Executive Officer, effective January 1, 2015. Mr. Milliron, currently the company's President and Chief Operating Officer, will succeed Charles R. Cox upon Mr. Cox's retirement at the end of 2014. Mr. Milliron will continue to serve as President upon assuming the role of CEO, but will relinquish the title of COO, a position which the company does not intend to fill at this time. Mr. Milliron joined the company in 2005 as COO of the technical services business unit. He was promoted to Executive Vice President and COO of the Company in 2007 and then to President and COO in 2009. Before joining Furmanite, Mr. Milliron was CEO, President and a Director at CooperHeat-MQS Inc.

Furmanite Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Revised Earnings Guidance for the Year 2014

Furmanite Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. Revenues for the three months ended September 30, 2014 were $124.1 million, an increase of $24.6 million, or 24.7%, over the $99.5 million reported for the three months ended September 30, 2013. Adjusted operating income for the three months ended September 30, 2014 and 2013 was $3.5 million and $4.5 million respectively. Net income for the 2014 third quarter was $1.1 million, or $0.03 per diluted share, compared to $2.1 million, or $0.06 per diluted share, in the 2013 third quarter. EBITDA was $5.6 million against $6.75 million reported last year. Operating income was $2.3 million against $4.4 million reported last year. Income before income taxes was $2 million against $3.65 million reported last year. Adjusted diluted earnings per share was $0.05 million against $0.06 reported last year. Revenues for the nine months ended September 30, 2014 were $395.3 million, an increase of $98.4 million, or 33.1%, over the $296.9 million reported for the nine months ended September 30, 2013. Adjusted operating income for the nine months ended September 30, 2014 and 2013 was $14.5 million and $20.2 million respectively. Net income for the nine months ended September 30, 2014 was $6.6 million, or $0.17 per diluted share, compared to $11.4 million, or $0.30 per diluted share for the nine months ended September 30, 2013. EBITDA was $21.8 million against $28.1 million reported last year. Operating income was $13.1 million against $20.1 million reported last year. Income before income taxes was $11.3 million against $18.9 million reported last year. Adjusted diluted earnings per share was $0.20 million against $0.31 reported last year. Net cash provided by operating activities was $15.9 million against $11.2 million reported last year. Capital expenditure was $5.2 million against $13.5 million reported last year. The company revised its previously issued 2014 revenue guidance, with annual revenues now expected to be in the range of $535 million to $550 million and 2014 estimated net income available to common shareholders to be in the range of $0.27 to $0.33 per diluted share.

 

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FRM

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Valuation FRM Industry Range
Price/Earnings 29.2x
Price/Sales 0.5x
Price/Book 1.9x
Price/Cash Flow 12.4x
TEV/Sales 0.3x
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