UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 
 
FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
 
March 26, 2004

 	 	 	 	 	
 	 	FMC TECHNOLOGIES, INC.

	  	 	
 	 	(Exact name of registrant as specified in its charter)	  	 	

 	 	 	 	 	
          Delaware          

	 	    1-16489    

	 	    36-4412642    

	
(State or other jurisdiction
of incorporation)	 	(Commission
File Number)	 	(I.R.S. Employer
Identification No.)	

 	 	 	 	 	
 	 	        1803 Gears Road, Houston, Texas 77067        

	  	 	
 	 	(Address of principal executive offices) (Zip Code)	  	 	
 	 	 	
 	 	                281-591-4000                

	  	 	
 	 	Registrant’s telephone number,
including area code	  	 	

ITEM 7.    FINANCIAL STATEMENTS AND EXHIBITS.
 
(c) Exhibits: The following exhibit is furnished as part of this report:
 
 	99.1	Slides included in FMC Technologies’ presentation at Howard Weil’s 32nd Annual Energy Conference on March 29, 2004.	

ITEM 9.    REGULATION FD DISCLOSURE.
 
Representatives from FMC Technologies, Inc. will make a presentation at Howard Weil’s 32nd Annual Energy Conference in New Orleans, Louisiana, on March 29, 2004. Presenters at this conference will include Joseph H. Netherland, Chairman, President and Chief Executive Officer, and William H. Schumann, III, Senior Vice President, Chief Financial Officer and Treasurer, FMC Technologies, Inc.
 
Slides containing information to be presented at the conference are attached hereto as an exhibit to this report and are incorporated herein in their entirety by this reference. These slides will also be made available at the Company’s website ( www.fmctechnologies.com ). This information is being furnished under Item 9 of Form 8-K and is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended. The posting and furnishing of this information is not intended to, and does not, constitute a determination by FMC Technologies, Inc. that the information is material or that investors should consider this information before deciding to buy or sell FMC Technologies, Inc. securities.

SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

FMC TECHNOLOGIES, INC.	
 	 	
By:	 	/S/    WILLIAM H. SCHUMANN, III	

	
 	 	William H. Schumann, III
Senior Vice President, Chief Financial
Officer and Treasurer	
 
Date: March 26, 2004

Exhibit 99.1

Strong Financial Results
Energy Systems Growth Drives Earnings per Share
Operating Segment Profit
Airport
FoodTech
Energy Systems
Earnings per share
$0.77 2001
$0.87 2002
$1.03 2003
(pro forma)
Amounts represent net income per diluted share before the cumulative effect of an accounting change. See Appendix I.

 
Growing Earnings
(Earnings Per Share Data) Unaudited
$0.77 $0.30 $0.23 $0.19 $0.06 2001 (pro forma) $0.87
$0.33 $0.23 $0.25 $0.06 2002 $1.03
0.32 $0.28 $0.32 $0.12 2003
Q4 Q3 Q2 Q1
Amounts represent net income per diluted share before the cumulative effect of an accounting change. See Appendix I.

 
EBITDA GROWTH
FMC Technologies
Oilfield Services Index Median
S & P 500 Median
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) is a non-GAAP measure. See Appendix II.

 
Return on Investment
FMC Technologies
Oilfield Services Index Median
S & P 500 Median
Return on Investment (ROI) is calculated as income before the cumulative effect of changes in accounting principles plus after-tax interest expense as a percentage of total average debt and equity. The calculation of 2001 ROI uses after-tax profit on a pro-forma basis, which is a non-GAAP measure. See Appendix II.

 
Appendix I
Reconciliation of Non-GAAP measures (as required by Regulation G)
Q1 2001* Q2 2001* Q3 2001 Q4 2001 FY 2001
Income per diluted share (pro forma basis) (a non-GAAP measure) $0.06 $0.19 $0.23 $0.30 $0.77
Add: Pro forma incremental interest expense 0.04 0.03 - - 0.07
Less:
Restructuring and asset impairment charges (0.10) - (0.06) - (0.16)
Income taxes related to separation from FMC (0.05) (0.06) (0.02) - (0.13)
Other (0.01) (0.01) - - -
Income per diluted share before cumulative effect of
a change in accounting principle (GAAP basis) $(0.06) $0.15 $0.15 $0.30 $0.55
*Results relating to periods prior to June 1, 2001 were carved out form the consolidated financial statements of FMC.
2001 2002
Un-levered net income (a non-GAAP Measure)** $ 63.8 $ 66.4
Less after-tax adjustments:
Interest expense (8.6) ( 8.6)
Restructuring & Impairment charges (10.4) -
Income taxes related to separation from FMC ( 8.9) -
Cumulative effect of accounting changes ( 4.7) (193.8)
Net income (GAAP Basis) $ 31.2 $ (136.0)
**Used in calculation of return on capital

 
Appendix II
Year Ended December 31,
(in millions) 2001
After-tax profit (non-GAAP measure) $ 50.5
Less: Restructuring and asset impairment charges, net of income taxes (10.4)
Less: Income tax charges related to the Separation from FMC Corporation (8.9)
Plus: Pro forma interest expense, net income taxes 4.7
Income before the cumulative effect of a change in accounting principle (GAAP measure) $ 35.9
It is our view that after-tax profit on a pro forma basis of $54.0 million is a useful measure of our performance in 2001, because it excludes restructuring charges related to initiatives undertaken to lower our cost structure in response to adverse market conditions. It also excludes income tax provisions related to repatriation of offshore earnings and the reorganization of our worldwide entities in anticipation of our separation from FMC Corporation, and it adds an estimate of interest expense that we might have incurred had we been a stand-alone entity for the entire year of 2001.