8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): May 11, 2009

Furmanite Corporation

(Exact name of registrant as specified in its charter)

Delaware	001-05083	74-1191271
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

2435 N. Central Expressway, Richardson,
Texas	75080
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: 972-699-4000

Not Applicable

Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure.

Furmanite Corporation today announced earnings for the period ended March 31, 2009. The press release is included with this filing as exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

Furmanite Corporation held its quarterly conference call with analysts and fund managers to discuss the information released today. The call will be web cast and the slide presentation of support materials is attached as exhibit 99.2.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Furmanite Corporation
May 11, 2009	By:	Howard C. Wadsworth
		Name:	Howard C. Wadsworth
		Title:	CFO

EX-99.1

Exhibit 99.1

For immediate release	For more information, contact:
	Investor Relations
	(972) 699-4055
	Email: investor@furmanite.com

FURMANITE CORPORATION REPORTS 1Q 2009 RESULTS
Results affected by project slowdown and negative currency fluctuations;
reports net income of $880,000 and EPS of $0.02

DALLAS, TEXAS (May 11, 2009) — Furmanite Corporation (NYSE: FRM) today reported results for the quarter ended March 31, 2009. Revenues for the quarter were $63.0 million, compared with $73.4 million for the same period in 2008. The company reported net income of $880,000 for the quarter, compared with $3.7 million in 2008. Earnings per share (diluted) were $0.02, compared with $0.10 for the prior year’s quarter.

“Furmanite’s first quarter results show the effect of a severe slowdown in project work in the U.S. and the continuing effect of negative currency fluctuations that we expect will affect our results at least through the third quarter this year,” said Michael L. Rose, chairman and chief executive officer of Furmanite Corporation. “As we discussed at year-end, we anticipated that the recession would have an effect on our business and made substantial reductions in our general and administrative costs, without sacrificing our plans to increase expertise and capacity. What we could not predict was the severity of the drop in discretionary capital projects in America, where this work represented a significant part of our revenues. We are accelerating the pace in strengthening our sustained base of U.S. business, in order to reduce the effect of project variability.”

Mr. Rose added: “Around the world, we have aggressive efforts underway to drive growth in the industry sectors where there are ongoing and substantial opportunities for our company. We have the financial resources and the discipline it takes to weather this current economic environment and to use the opportunities it presents to grow our capabilities and our business.”

2435 North Central Expressway, Suite 700 Richardson, Texas 75080 972-699-4055

Joseph Milliron, president and chief operating officer of Furmanite Corporation, said: “In line with our strategy to provide the full array of services in all our locations, we saw a continuing positive impact on results for a number of our operations, notably in the United Kingdom, Germany, Norway and the Malaysia/Singapore region. Our operations in Australia and the Netherlands were negatively affected in the first quarter because of contractions in the industries that use the services we have emphasized in those markets. We have implemented plans to broaden the industries we serve and further deploy the additional services we offer. We expect to see improvement in both of these operations by mid-year.”

The company’s revenues, operating income and net income were unfavorably impacted by foreign currency fluctuations by approximately $(8.0) million, $(682,000) and $(162,000), respectively, for the first quarter in 2009.

ABOUT FURMANITE CORPORATION

Furmanite Corporation (NYSE: FRM) is a worldwide technical services firm. Headquartered in Dallas, Texas, Furmanite, one of the world’s largest specialty technical services companies, delivers a broad portfolio of engineering solutions that keep facilities operating, minimizing downtime and maximizing profitability. Furmanite’s diverse, global operations serve a broad array of industry sectors, including offshore drilling operations, pipelines, refineries and power generation facilities, chemical and petrochemical plants, steel mills, automotive manufacturers, pulp and paper mills, food and beverage processing plants, semi-conductor manufacturers and pharmaceutical manufacturers. Furmanite operates more than 80 offices on six continents. For more information, visit www.furmanite.com.

Certain of the Company’s statements in this press release are not purely historical, and as such are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding management’s intentions, plans, beliefs, expectations or projections of the future. Forward-looking statements involve risks and uncertainties, including without limitation, the various risks inherent in the Company’s business, and other risks and uncertainties detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission. One or more of these factors have affected, and could in the future affect the Company’s business and financial results in future periods, and could cause actual results to differ materially from plans and projections. There can be no assurance that the forward-looking statements made in this document will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the Company, or any other person, that the objectives and plans of the Company will be achieved. All forward-looking statements made in this press release are based on information presently available to management, and the Company assumes no obligation to update any forward-looking statements.

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FURMANITE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)

	Three Months
	Ended March 31,
	2009			2008
Revenues	$	63,032		$	73,387
Costs and expenses:
Operating costs		42,578			47,308
Depreciation and amortization		1,343			1,256
Selling, general and administrative		17,471			19,598
Total costs and expenses		61,392			68,162
Operating income		1,640			5,225
Interest and other income (expense), net		(94	)		178
Interest expense		(293	)		(631	)
Income before income taxes		1,253			4,772
Income tax expense		(373	)		(1,062	)
Net income	$	880		$	3,710
Earnings per common share — Basic	$	0.02		$	0.10
Earnings per common share — Diluted	$	0.02		$	0.10

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FURMANITE CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands) (Unaudited)

	March 31,		December 31,
	2009		2008
Cash	$	34,670	$	30,793
Trade receivables, net		55,592		64,879
Inventories		25,679		24,868
Other current assets		7,294		7,187
Total current assets		123,235		127,727
Property and equipment, net		29,126		29,278
Other assets		16,865		16,273
Total assets	$	169,226	$	173,278
Total current liabilities	$	74,714	$	43,901
Total long-term debt		222		35,363
Other liabilities		2,929		2,697
Total stockholders’ equity		91,361		91,317
Total liabilities and stockholders’ equity	$	169,226	$	173,278

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FURMANITE CORPORATION

CONDENSED CONSOLIDATED CASH FLOWS

(In thousands) (Unaudited)

	Three Months
	Ended March 31,
	2009			2008
Net income	$	880		$	3,710
Depreciation, amortization and other non-cash items		1,593			1,295
Working capital changes		3,282			1,660
Net cash provided by operating activities		5,755			6,665
Capital expenditures		(1,410	)		(2,254	)
Payments on debt		(119	)		(2,299	)
Other, net		12			55
Effect of exchange rate changes on cash		(361	)		543
Increase in cash and cash equivalents		3,877			2,710
Cash and cash equivalents at beginning of period		30,793			31,570
Cash and cash equivalents at end of period	$	34,670		$	34,280

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EX-99.2

Exhibit 99.2

Furmanite Corporation Review of Q1 2009 Michael Rose, Chairman & CEO Joseph Milliron, President & COO Howard Wadsworth, CFO

Safe Harbor Statement Certain of the Company's statements in this presentation are not purely historical, and as such are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding management's plans, beliefs, expectations, intentions or projections of the future. Forward-looking statements involve risks and uncertainties, including without limitation, the various risks inherent in the Company's business, and other risks and uncertainties detailed most recently in this presentation and the Company's Form 10-K as of December 31, 2008 filed with the Securities and Exchange Commission. One or more of these factors have affected, and could in the future affect the Company's business and financial results in future periods, and could cause actual results to differ materially from plans and projections. There can be no assurance that the forward-looking statements made in this document will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the Company, or any other person, that the objectives and plans of the Company will be achieved. All forward-looking statements made in this presentation are based on information presently available to management, and the Company assumes no obligation to update any forward-looking statements. 2 05/11/2009

Consolidated Condensed Statements of Operations ($ in 000s except per share amounts) (Unaudited) 05/11/2009 3 Three Months Three Months Three Months March 31 March 31 March 31 2009 2008 Change Revenues $ 63,032 $ 73,387 $ (10,355) Operating costs 42,578 47,308 (4,730) DD&A 1,343 1,256 87 Selling, general and administrative 17,471 19,598 (2,127) Operating income 1,640 5,225 (3,585) Interest and other income (expense), net (387) (453) 66 Pretax income 1,253 4,772 (3,519) Income taxes 373 1,062 (689) Net income $ 880 $ 3,710 $ (2,830) Diluted per share $ 0.02 $ 0.10 $ (0.08)

Adjustments for Currency Rates (in 000s except percentages) 05/11/2009 4 Three Months Three Months Three Months March 31 March 31 March 31 2009 2008 Change Revenues: Americas $ 30,074 $ 36,068 $ (5,994) Europe 27,198 29,528 (2,330) Asia-Pacific 5,760 7,791 (2,031) Total revenues $ 63,032 $ 73,387 $ (10,355) Currency adjusted revenues: Americas $ 30,074 $ 36,068 $ (5,994) Europe 33,816 29,528 4,288 Asia-Pacific 7,110 7,791 (681) Total currency adjusted revenues $ 71,000 $ 73,387 $ (2,387)

Adjustments for Currency Rates ($ in 000s except percentages) 05/11/2009 5 Three Months Three Months Three Months March 31 March 31 March 31 2009 2008 Change Operating income after allocation of headquarter costs: Americas $ 463 $ 2,577 $ (2,114) Europe 937 1,739 (802) Asia-Pacific 240 909 (669) Total operating income after allocation of headquarter costs $ 1,640 $ 5,225 $ (3,585) Currency adjusted operating income after allocation for headquarter costs: Americas $ 463 $ 2,577 $ (2,114) 1,570 1,739 (169) Asia-Pacific 289 909 (620) Total currency adjusted operating income after allocation of headquarter costs $ 2,322 $ 5,225 $ (2,903) Net income $ 880 $ 3,710 $ (2,830) Currency adjusted net income $ 1,042 $ 3,710 $ (2,668)

March 31 December 31 2009 2008 Change Cash $ 34,670 $ 30,793 $ 3,877 Trade receivable, net 55,592 64,879 (9,287) Inventories 25,679 24,868 811 Other current assets 7,294 7,187 107 Total current assets 123,235 127,727 (4,492) Property and equipment, net 29,126 29,278 (152) Other assets 16,865 16,273 592 Total assets $ 169,226 $ 173,278 $ (4,052) Total current liabilities $ 74,714 $ 43,901 $ 30,813 Total long-term debt 222 35,363 (35,141) Other liabilities 2,929 2,697 232 Total stockholders' equity 91,361 91,317 44 Total liabilities and stockholders' equity $ 169,226 $ 173,278 $ (4,052) Consolidated Condensed Balance Sheets ($ in 000s) 05/11/2009 6

Consolidated Condensed Cash Flows ($ in 000s) 05/11/2009 7 Three Months Three Months Three Months March 31 March 31 March 31 2009 2008 Change Net income $ 880 $ 3,710 $ (2,830) Depreciation, amortization and other non-cash items 1,593 1,295 298 Working capital changes 3,282 1,660 1,622 Net cash provided by operating activities 5,755 6,665 (910) Capital expenditures (1,410) (2,254) 844 Payments on debt (119) (2,299) 2,180 Other, net 12 55 (43) Effect of exchange rate changes on cash (361) 543 (904) Increase in cash and cash equivalents 3,877 2,710 1,167 Cash and cash equivalents at beginning of year 30,793 31,570 (777) Cash and cash equivalents at end of year $ 34,670 $ 34,280 $ 390

Furmanite Corporation Review of Q1 2009 05/11/2009 8