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Babcock & Wilcox 4Q net income up 170 percent

The Babcock & Wilcox Co. said it had net income of $53 million in the fourth quarter of 2010, or 45 cents a share, up 170 percent from $19.6 million, or 17 cents a share, in the same quarter of 2009.

Revenues for the fourth quarter of 2010 were $705.2 million, up 2.4 percent from $688.5 million in the year-ago quarter and the first quarterly year-over-year increase since the fourth quarter of 2008.

For all of 2010, the company had revenue of $2.68 billion, up from $2.85 billion in 2009. Net income for 2010 was $153.5 million, or $1.32 a share, up from $147.9 million, or $1.27 a share, in 2009.

The company is involved in clean-energy technology and services, primarily for the nuclear, fossil and renewable power markets.

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