Dresser-Rand Reiterates Guidance for 2011

HOUSTON, Feb. 8, 2011 /PRNewswire/ -- At the Credit Suisse Energy Summit today which was simultaneously webcast, Vince Volpe, Dresser-Rand's President & CEO, provided positive comments about its fourth quarter 2010 results and reiterated guidance for 2011.  

Dresser-Rand achieved record new unit bookings in the fourth quarter 2010 of $480 million.  As a result, new unit bookings for 2010 of $1.2 billion were at the midpoint of its guidance range of $1.1 to $1.3 billion.  On the aftermarket side, fourth quarter bookings of approximately $270 million increased by about 10% above the average run rate of the first three quarters.  Volpe also mentioned that fourth quarter operating earnings are in-line with its earlier guidance.

The Company also reiterated previous guidance for 2011 indicating that revenues are expected to increase by approximately 10% and that operating income should be in the range of $260 to $300 million.  Volpe also noted that the new unit backlog at the end of the year was approximately $1.6 billion with approximately $1.0 billion scheduled to ship in 2011. Approximately $170 million is scheduled for the first quarter, with the remainder ramping up through the course of the year. Additionally, Volpe pointed out that of the remaining approximately $600 million of new unit backlog most is scheduled for shipment in 2012, which provides the basis for a significant potential increase in 2012 new unit revenues.

About Dresser-Rand

Dresser-Rand is among the largest suppliers of rotating equipment solutions to the worldwide oil, gas, petrochemical, and process industries.  The Company operates manufacturing facilities in the United States, France, United Kingdom, Germany, Norway, India, and China, and maintains a network of 39 service and support centers covering more than 140 countries. Dresser-Rand has principal offices in Paris and Houston and reported revenues of $2.29 billion in 2009. For more information, visit www.dresser-rand.com.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include, without limitation, the Company's plans, objectives, goals, strategies, future events, future bookings, revenues, or performance, capital expenditures, financing needs, plans, or intentions relating to acquisitions, business trends, executive compensation, and other information that is not historical information.  The words "anticipates," "believes," "expects," "intends," "appears," "outlook," and similar expressions identify such forward-looking statements.  Although the Company believes that such statements are based on reasonable assumptions, these forward-looking statements are subject to numerous factors, risks, and uncertainties that could cause actual outcomes and results to be materially different from those projected.  These factors, risks and uncertainties include, among others, the following: the possibility that the transaction will not close or that the closing may be delayed, including the potential inability to obtain regulatory approval for the transaction and inability of the parties to meet the closing conditions to the transaction; the anticipated synergies and benefits of the acquisition may not be achieved after closing; integration activities may be delayed, costly or be unable to be completed in a timely manner, if at all; differences in accounting standards and procedures used by the parties to the transaction; inability to obtain financing at favorable rates; inability to effect the repurchase program successfully, including within the proposed timing or at all; the uncertainty regarding the amount and timing of share repurchases and the source of funds for such purposes; the success, timing and closing of the contemplated debt offering and redemption of outstanding debt; potential for material weaknesses in its internal controls; economic or industry downturns; the variability of bookings due to volatile market conditions, subjectivity clients exercise in placing orders, and timing of large orders; volatility and disruption of the credit markets; its inability to generate cash and access capital on reasonable terms and conditions; its inability to implement its business strategy to increase aftermarket parts and services revenue; competition in its markets; failure to complete or achieve the expected benefits from any future acquisitions; economic, political, currency and other risks associated with international sales and operations; fluctuations in currencies and volatility in exchange rates; loss of senior management; environmental compliance costs and liabilities; failure to maintain safety performance acceptable to its clients; failure to negotiate new collective bargaining agreements; unexpected product claims and regulations; infringement on its intellectual property or infringement on others' intellectual property; difficulty in implementing an information management system; and the Company's brand name may be confused with others.  These and other risks are discussed in detail in the Company's filings with the Securities and Exchange Commission at www.sec.gov.  Actual results, performance, or achievements could differ materially from those expressed in, or implied by, the forward-looking statements.  The Company can give no assurances that any of the events anticipated by the forward-looking statements will occur or, if any of them does, what impact they will have on results of operations and financial condition.  The Company undertakes no obligation to update or revise forward-looking statements, which may be made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.  For information about Dresser-Rand, go to its website at www.dresser-rand.com.

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