Dresser-Rand Q4 Profit Plunges On Draft Spanish Regulation Impact - Quick Facts

(RTTNews) - Dresser-Rand Group Inc. (DRC), a supplier of rotating equipment and aftermarket parts and services, Wednesday said fourth-quarter net income attributable to the company plunged to $32.8 million from $80.2 million in the previous year.

Earnings per share declined to $0.43 from $1.05. The company recorded the impact of the previously disclosed draft Spanish regulation, which resulted reduced earnings per share by $0.81.

On average, 18 analysts polled by Thomson Reuters expected earnings of $1.29 per share. Analysts' estimates typically exclude special items.

Total revenue dropped to $827.0 million from last year's $844.4 million, principally from the retroactive reduction of the tariffs in the draft Spanish regulation. Analysts expected revenues of $1.10 billion.

The company expects its earnings per share for 2014 to be in the range of $2.60 to $2.80, reflecting revenues expected to be approximately the same as $3.03 billion generated in 2013. Analysts look for earnings of $3.10 per share on revenues of $3.24 billion.