FMC Technologies Earnings Call Insights: West Africa Opportunities and Expansion of Pure

FMC Technologies, Inc. (NYSE:FTI) recently reported its fourth quarter earnings and discussed the following topics in its earnings conference call.

West Africa Opportunities

Joe Hill – Tudor, Pickering: John, I’m curious as to what you are seeing in West Africa with regards to some of the opportunities you touched on that gives you confidence, we’re going to see some of these things break loose this year. Obviously there has been some issues within NPC and some FPL award changes and maybe a slowdown of development plan. So, just a little curious as to you know what gives you confidence?

John T. Gremp – Chairman, President and CEO: I think I mentioned on the last quarter that one of the big projects that we’re targeting had the potential to slip into 2013 and now it looks like that that’s happened. I would be very surprised if that project was not awarded in the first half of the year. I know there is petroleum law issues in Nigeria and so forth, but it looks like these projects are not really affected. I know there was another project, a Nigerian project, I believe, (indiscernible) where there was an installation contract award which would suggest that these projects are getting pretty close to breaking loose and I think that’s what will happen. If you look at Angola, the list of projects there, we’ll see some activity in Angola this year. So, I think particularly Nigeria where things have stalled for the last couple of years, we’re going to start to see that break loose. And I would be surprised if a couple of those projects weren’t awarded, ones at least we’re targeting in the first half of the year.

Joe Hill – Tudor, Pickering: Then, another question I had was how Pure performed relative to your expectations in the fourth quarter?

John T. Gremp – Chairman, President and CEO: We were pleased with that. The acquisition of Pure is part of our longer terms strategy, and although there is difficulties in North America their Canadian business where they are so strong held up as good as we could have expected. I’ll let Bob Potter make some comments on Pure.