Exterran Holdings Q1 Profit Down

(RTTNews) - Exterran Holdings Inc. (EXH) said that its net income attributable to stockholders for the first quarter 2014 was $32.6 million or $0.47 per share, down from $50.2 million or $0.76 per share for the first quarter 2013.

Net income from continuing operations attributable to Exterran stockholders, excluding items, for the first quarter 2014 was $13.9 million or $0.20 per share, excluding pretax restructuring charges of $4.8 million related to its North America contract operations and aftermarket services businesses and non-cash pretax long-lived asset impairment charges of $3.8 million related to our North America contract operations business.

Net income from continuing operations attributable to Exterran stockholders, excluding items, for all periods excludes the benefit of proceeds from the two previously announced sales of Exterran Holdings' nationalized Venezuelan assets, which was $22.7 million for the first quarter 2014.

Net income from continuing operations attributable to Exterran stockholders, excluding items, for the first quarter 2013 was $13.6 million, or $0.21 per share.

Revenue was $643.0 million, down from $809.9 million for the first quarter 2013.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.14 per share and revenues of $683.95 million. Analysts' estimates typically exclude special items.

Exterran Holdings has declared a dividend of $0.15 per share of common stock, a rate of $0.60 per share on an annualized basis, to be paid on May 16, 2014 to stockholders of record at the close of business on May 9, 2014.