Exterran Reduces Net Losses in 2012
Tuesday, February 26, 2013
Exterran Holdings Inc. reported net losses of US$5.7 million in the fourth quarter of 2012, an improvement from a loss of US$66 million in the same period a year earlier. For all of 2012, net losses were US$40 million, down from losses of US$340 million the prior year.
Fourth quarter earnings before interest, taxes, depreciation and amortization (EBITDA) were US$141 million, compared to US$126 million for the third quarter of 2012 and US$117 million for the fourth quarter of 2011.
Revenue was US$839 million for the fourth quarter of 2012, compared to US$718 million for the third quarter and US$689 million for the fourth quarter of 2011. Exterran’s fabrication backlog was US$1 billion on Dec. 31, 2012, compared to US$1.2 billion on Sept. 30, 2012 and US$735 billion on Dec. 31, 2011.
“We are on track to make further progress in improving the company’s performance in 2013, though similar to last year, first quarter revenues are expected to decline somewhat from fourth quarter levels,” said President and Chief Executive Officer Brad Childers.
For more information: www.exterran.com