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News Breaks
February 17, 2014
18:17 EDTDRCDresser-Rand says Q4 operating income lower than expected
Dresser-Rand said, "Our fourth quarter operating income before the potential impact of the proposed Spanish regulation is expected to be at a record level for our Company; however, it will be lower than our earlier expectation due primarily to the two items mentioned above. Additionally, we expect to report a record level of aftermarket bookings for 2013, and while new unit bookings for 2013 were affected by project delays during the course of the year, especially in the upstream part of the business, we had a strong level of bookings in the fourth quarter 2013. We also saw in the fourth quarter improvement in our net working capital and operating margins."
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