logo
Share SHARE
FONT-SIZE Plus   Neg

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 RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Electric car maker Tesla Motors Inc. (TSLA), Wednesday reported a loss for the fourth quarter that was narrower than last year. The company said it expects to start volume production of Model 3 by September. Palo Alto, California-based Tesla reported fourth-quarter loss of $121.3 million or $0.78... Canada based Maple Leaf Foods Inc. Wednesday said it has reached a definitive agreement with Brynwood Partner VI L.P. for the acquisition of Lightlife Foods Inc. The deal would be worth $140 million plus other costs. Light is a brand in U.S. for refrigerated plant based protein foods. A hedge fund is an alternative investment fund that uses pooled funds from accredited individuals or institutional investors and invests these funds in different assets with a goal of generating high returns. Hedge funds are generally accessible only to accredited or qualified investors. They cannot...
comments powered by Disqus
Follow RTT