FEI Company (Nasdaq:FEIC) reported results for third quarter of 2014. Revenue of $227.8 million was up 4.2% compared to $218.5 million in the third quarter of 2013 and down 3.9% compared to $237.0 million in the second quarter of 2014.
Net bookings in the third quarter were $250.1 million with a book-to-bill ratio of 1.1-to-1. Backlog grew to a record $539.0 million, an increase of $65.5 million since the beginning of the year. Bookings and backlog in the third quarter were negatively impacted by $19.4 million due to revaluation of the backlog for changes in foreign exchange rates. Excluding the impact of foreign exchange revaluations on existing backlog, bookings for the third quarter would have been $269.5 million, an all-time record and up 4.0% compared with the second quarter of 2014. Movements in foreign exchange rates negatively impacted revenue in the third quarter by $2.7 million, compared with second quarter of 2014 rates.
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