Foster Wheeler AG, the Swiss global engineering, construction contractor and power equipment supplier has revealed a decline in quarterly fiscal results for 2011.

Foster Wheeler reported $39.2m net income for the fourth quarter of 2011, or $0.04 per diluted share, compared with $32.8m, or $0.26 per diluted share, in the corresponding quarter of 2010.

CEO, Kent Masters commented on the depreciation, “Net income for the fourth quarter of 2011 was down relative to the average quarter of 2010, due primarily to lower EBITDA in the company’s Global Engineering and Construction Group.”

We expect both our Global E&C Group and our Global Power Group to generate increased scope revenues in 2012 as compared to 2011.

Kent Masters, CEO Foster Wheeler AG

For the full year 2011 net income was $162.4m, or $1.35 per diluted share, compared with $215.4 million, or $1.70 per diluted share, for the full year 2010.

According to Foster Wheeler, net income was also impacted by asbestos-related provisions. Excluding such items from both quarterly periods, net income in the fourth quarter of 2011 was $44.8m, or $0.39 per diluted share, compared with $38.3m, or $0.31 per diluted share, in the comparible quarter during 2010.

Nevertheless, Masters was optimistic about the year ahead, he said, “We expect both our Global E&C Group and our Global Power Group to generate increased scope revenues in 2012 as compared to 2011. We expect E&C to generate a full-year EBITDA margin on scope revenues within a range of 12% to 14%. We expect GPG to generate a full-year EBITDA margin on scope revenues within a range of 16% to 18%.”

“Comparing 2012 to 2011, we expect that higher volume combined with the positive impact of a reduced share count will result in a material increase in the company’s earnings per share in 2012,” concluded Masters.