CEO Vincent Volpe, Dresser-Rand Group Insider Buys $1,007,000 of Shares on March 14, 2014

Vincent Volpe, CEO of Dresser-Rand Group, bought 18,400 shares of Dresser-Rand Group (Stock Symbol: DRC) at $54.75 per share for a total amount of $1007.4 million on March 14, 2014. Dresser-Rand Group is headquartered in Houston, Texas. On March 12, 2014, it was reported that Dresser-Rand Group achieved full year record sales and earnings before the Draft Spanish Regulation. Its energy assets in Spain were previously operated under the Electrical Special Regime tariffs. The Spanish government published a draft regulation that reflects a reduction in the tariffs of approximately 37%, which, if enacted, would be retroactive to July 2013. On March 12, 2014, Dresser-Rand Group announced its latest quarterly results of $32.8 million, or $0.43 per diluted share, for the fourth quarter 2013, which compares with net income of $80.2 million, or $1.05 per diluted share, for the fourth quarter 2012. Net income was $168.4 million, or $2.19 per diluted share, for 2013. This compares with net income of $179.0 million, or $2.35 per diluted share, for 2012. Under U.S. GAAP, the Company was required to record the impact of the previously disclosed draft Spanish regulation, which resulted in reduced operating income and diluted earnings per share by $62 million and $0.81, respectively, for the fourth quarter and full year 2013. As a result of this draft regulation being proposed, the Company has reduced 2013 operating income by (1) approximately $22 million for the proposed retroactive reduction of the tariffs and (2) approximately $40 million for asset impairments. The impact of the draft Spanish regulation solely affected the Company’s aftermarket parts and services segment. According to Capital IQ, Dresser-Rand Group has a market cap of 4.44 billion, an enterprise value of 5.57 billion, and trailing 12 month revenues of 3.03 billion. Dresser-Rand Group Inc., together with its subsidiaries, designs, manufactures, sells, and services rotating equipment solutions to the oil, gas, chemical, petrochemical, process, power generation, military, and other industries worldwide. It operates in two segments: New Units, and Aftermarket Parts and Services. The New Units segment offers turbo and reciprocating compression equipment and steam turbines; power turbines; special-purpose gas turbines; hot gas expanders; gas and diesel engines; trip, trip throttle, and non-return valves; and magnetic bearings and control systems. This segment also provides engineering, manufacturing, project management, packaging, testing, sales, and administrative support services. The Aftermarket Parts and Services segment offers a range of aftermarket parts and services, including replacement parts, field service turnaround, service and repair, operation and maintenance contracts, rotor/spare parts storage, condition monitoring, controls retrofit, site/reliability audits, remote area energy solutions, equipment repair and rerates, equipment installation, applied technology, long-term service agreements, special coatings/weldings, product training, turnkey installation/project management, and energy asset management services. This segment also provides engineering, manufacturing, project management, installation, commissioning, start-up and other field services, repairs, overhauls, refurbishment, sales, and administrative support services. The company markets its products and services through its sales representatives comprising direct sales/service personnel and a network of independent representatives and distributors. Vincent Volpe’s most recent annual compensation from Dresser-Rand Group is a salary of $2,360,000, $2,583,040 in other compensation, and a total compensation of $1,287,990. Mr. Volpe is 55 years old. According to his biography, Mr. Vincent R. Volpe is President, Chief Executive Officer, Director of Dresser-Rand Group Inc., since October 2004. Mr. Volpe has been with Dresser-Rand Group Inc., its affiliates and predecessor companies to the business since 1981. He has held positions in Engineering, Marketing and Operations residing and working in various countries, including: Applications Engineer in Caracas, Venezuela; Vice President Dresser-Rand Japan in Tokyo, Japan; Vice President Marketing and Engineering Steam and Turbo Products in Olean, New York; Executive Vice President European Operations in Le Havre, France; and President Dresser-Rand Europe in London, U.K. In January 1997, Mr. Volpe became President of Dresser-Rand Company’s Turbo Product Division, a position he held until September 2000. In April 1999, he assumed the additional role of Chief Operating Officer for Dresser-Rand Company, responsible for worldwide manufacturing, technology and supply chain management, serving in that position until September 2000. Mr. Volpe became President and Chief Executive Officer of Dresser-Rand Company in September 2000. He has served as an independent director of FMC Corporation since 2007. Mr. Volpe earned a B.S. in Mechanical Engineering and a B.A. in German literature, both from Lehigh University. All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . 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