logo
Plus   Neg
Share
Email

URS Q4 Profit Down - Quick Facts

URS Corp. (URS) reported fourth-quarter net income attributable to the company of $28.4 million, or $0.37 per share, down from $60.0 million, or $0.75 per share, in the fourth quarter of 2010.

Excluding charges, URS' fourth quarter fiscal 2011 net income would have been $68.5 million and earnings per would have been $0.89.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.98 per share on revenues of $2.54 billion for the quarter. Analysts' estimates typically exclude special items.

Revenues were $2.39 billion, compared to revenues of $2.38 billion in the fourth quarter of 2010.

URS also announced that its Board of Directors has approved the initiation of a regular quarterly cash dividend program. The initial quarterly cash dividend of $0.20 per common share will be paid on April 6, 2012 to stockholders of record as of March 16, 2012. Future declarations of quarterly dividends are subject to the approval of URS' Board of Directors.

On February 21, 2012, URS announced its outlook for fiscal 2012, excluding any effect from its proposed acquisition of Flint Energy Services Ltd. As announced, URS expects its standalone fiscal 2012 revenues will be between $9.9 billion and $10.1 billion, net income will be between $292 and $300 million and EPS will be between $3.95 and $4.05. Analysts expect the company to report earnings of $4.00 per share on revenues of $10.41 billion for fiscal 2012.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Amazon.com Inc. (AMZN) Thursday reported a first-quarter profit that more than doubled from a year ago, driven largely by a huge 46 percent growth in revenues. Shares of the online retailer gained 6 percent in extended session. Seattle, Washington-based Amazon reported first-quarter profit of $1.63... Software giant Microsoft Corp. (MSFT), Thursday reported an increase in profit for the third-quarter that trumped analysts' estimates, driven largely by strong growth in cloud business, as the software giant continues its transition from key software business to cloud business. Redmond, Washington-based... Shares of Deutsche Bank were losing around 2 percent in German trading after the banking giant reported lower profit and revenues in its first quarter with weakness in all segments, mainly Corporate & Investment Bank. Separately, the bank announced actions to reshape its Corporate & Investment Bank and additional cost-cutting measures, including job cuts.
Follow RTT