Last $6.95 USD
Change Today -0.18 / -2.52%
Volume 171.6K
As of 8:04 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

furmanite corp (FRM) Snapshot

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52 Week High
03/4/14 - $12.34
52 Week Low
11/3/14 - $5.75
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Current Stock Chart for FURMANITE CORP (FRM)

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furmanite corp (FRM) Details

Furmanite Corporation, together with its subsidiaries, provides specialized technical services. It operates in two segments, Technical Services and Engineering & Project Solutions. The Technical Services segment offers on-line services, including leak sealing, hot tapping, line stopping, line isolation, composite repair, valve testing, and non-destructive testing and inspection; off-line services, such as on-site machining, heat treatment, bolting, valve repair, and other non-destructive testing and inspection services; and other services comprising smart shim services, concrete repair, engineering services, valve and other products, and manufacturing. This segment offers its services and products primarily to petroleum refineries, chemical plants, pipelines, offshore drilling and production platforms, steel mills, food and beverage processing facilities, power generation, and other flow-process industries. The Engineering & Project Solutions segment provides project planning, professional engineering, downstream non-destructive testing and inspection, construction management, mechanical integrity, field support, quality assurance, plant asset management, and other inspection and project management services. This segment offers its services to refining and petrochemical operators, as well as maintenance, and engineering and construction contractors servicing the downstream and midstream oil and gas markets. Furmanite Corporation operates in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company was formerly known as Xanser Corporation and changed its name to Furmanite Corporation in May 2007. Furmanite Corporation was founded in 1952 and is headquartered in Houston, Texas.

3,110 Employees
Last Reported Date: 03/7/14
Founded in 1952

furmanite corp (FRM) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $412.7K
Chief Administrative Officer, Chief Financial...
Total Annual Compensation: $263.6K
General Councel and Secretary
Total Annual Compensation: $246.2K
Compensation as of Fiscal Year 2013.

furmanite corp (FRM) Key Developments

Furmanite Corporation Announces Management Changes, Effective January 1, 2015

On December 23, 2014 Charles R. Cox, Furmanite Corporation's Chief Executive Officer through the end of 2014, announced his decision to resign from his position as a member of the Board of Directors of the company, effective January 1, 2015, for ongoing health reasons, and to coincide with the timing of his retirement from the company as Chief Executive Officer. Joseph E. Milliron, previously named Chief Executive Officer and President of the company, effective January 1, 2015 has been appointed to serve as a member of the Board of the company, effective January 1, 2015 to fill the vacancy created by Mr. Cox's resignation. Effective January 1, 2015, the Board appointed Robert S. Muff Chief Administrative Officer in addition to his role as the company's Chief Financial Officer.

BDO USA, LLP Replaces UHY LLP as Independent Registered Public Accounting Firm of Furmanite Corporation for the Fiscal Year Ending December 31, 2014

The audit committee of Furmanite Corporation's board of directors selected UHY LLP to serve as the company's independent registered public accounting firm for the fiscal year ending December 31, 2014, which was ratified by shareholders in May 2014. On December 1, 2014, UHY LLP informed the company that effective on that date, its Texas practice had been acquired by BDO USA, LLP. As a result of this transaction, on December 1, 2014, UHY resigned as the company's independent registered public accounting firm for the fiscal year ending December 31, 2014. As a result of the transaction, the audit committee appointed BDO USA, LLP as the successor independent registered public accounting firm on December 3, 2014.

Furmanite Corporation Announces Executive Changes

The Board of Directors of Furmanite Corporation announced that Joseph E. Milliron has been named the company's next Chief Executive Officer, effective January 1, 2015. Mr. Milliron, currently the company's President and Chief Operating Officer, will succeed Charles R. Cox upon Mr. Cox's retirement at the end of 2014. Mr. Milliron will continue to serve as President upon assuming the role of CEO, but will relinquish the title of COO, a position which the company does not intend to fill at this time. Mr. Milliron joined the company in 2005 as COO of the technical services business unit. He was promoted to Executive Vice President and COO of the Company in 2007 and then to President and COO in 2009. Before joining Furmanite, Mr. Milliron was CEO, President and a Director at CooperHeat-MQS Inc.


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Price/Earnings 25.7x
Price/Sales 0.5x
Price/Book 1.9x
Price/Cash Flow 11.8x
TEV/Sales 0.3x

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