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Company Links |
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Company Strategy |
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A leading global engineering, construction and services company supporting the energy, petrochemicals, government services and civil infrastructure sectors. |
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Product/Services Portfolio |
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The Company offers its services through two business segments, Energy and Chemicals, or E&C and Government and Infrastructure, or G&I.
The Company’s Energy and Chemicals segment designs and constructs energy and petrochemical projects, including large, technically complex projects in remote locations around the world. The Company’s expertise includes onshore oil and gas production facilities, offshore oil and gas production facilities, including platforms, floating production and subsea facilities, onshore and offshore pipelines, LNG and GTL gas monetization facilities, refineries, petrochemical plants and Syngas, primarily for fertilizer-related facilities. The Company provides a wide range of EPC-CS services, as well as program and project management, consulting and technology services.
The Company’s Government and Infrastructure segment delivers on-demand support services across the full military mission cycle from contingency logistics and field support to operations and maintenance on military bases. In the civil infrastructure market, the Company operates in diverse sectors, including transportation, waste and water treatment, and facilities maintenance.
The Company provides program and project management, contingency logistics, operations and maintenance, construction management, engineering, and other services to military and civilian branches of governments and private customers worldwide. The Company currently provides these services in the Middle East to support one of the largest U.S. military deployments since World War II, as well as in other global locations where military personnel are stationed.
The Company provides services to a diverse customer base, including international and national oil and gas companies, independent refiners, petrochemical producers, fertilizer producers, and domestic and foreign governments.
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Investment Analysis |
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G&I revenue decreased $579 million to $5.4 billion for the first nine months of 2006 compared to $6.0 billion for the first nine months of 2005.
E&C revenue increased $281 million to $1.7 billion for the first nine months of 2006 compared to $1.4 billion for the first nine months of 2005.
G&I Operating income decreased $138 million to $139 million for the nine months ended September 30, 2006 compared to $277 million for the same nine-month period of 2005. This decrease is
E&C operating loss for the first nine months of 2006 was $14 million, compared to operating income of $71 million in the first nine months of 2005.
Net interest income increased $13 million in the first nine months of 2006 compared to the first nine months of 2005.
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Income Data (Thousand $ Except EPS) |
| Year |
Revenues |
Costs |
Oper Income |
Taxes |
Net Income |
EPS |
| 2003
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8,863 |
8,927 |
-64 |
0.00 |
-133 |
0.00 |
| 2004
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11,906 |
12,263 |
-357 |
0.00 |
-303 |
0.00 |
| 2005
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10,146 |
9,691 |
455 |
0.00 |
240 |
0.00 |
| 2006
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7,124 |
6,999 |
125 |
0.00 |
125 |
0.00 |
| *As of period ended September 30, 2006
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Balance Sheet Data
(Thousand $) |
Year |
Cash |
Acct Recv. |
Inventory |
Total Cur Assets |
Total Cur Liability |
PPE |
Total Assets |
LT Debt |
SH Equity |
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2004 |
234 |
3,074 |
0.00 |
3,732 |
2,967 |
467 |
5,487 |
42 |
0.00 |
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2005 |
394 |
2,547 |
0.00 |
3,510 |
2,566 |
444 |
5,182 |
18 |
0.00 |
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2006 |
1,022 |
2,053 |
0.00 |
4,070 |
2,916 |
481 |
5,742 |
7 |
0.00 |
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*As of period ended September 30, 2006
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| Cash
Flow Summary
(Thousand $) |
Year |
Net Cash-Ops |
Net Cash-Inv |
Net Cash-Fin |
Net Change |
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2003 |
-899 |
-59 |
453 |
-419 |
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2004 |
-61 |
-85 |
-83 |
-205 |
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2005 |
527 |
20 |
-357 |
160 |
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2006 |
919 |
233 |
-545 |
628 |
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*As of period ended September 30, 2006
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- Avoid 
- Short-Term Growth
- Long-Term Growth 
- Long-Term Value 