URS Corp. (URS) reported net income for the fourth quarter of $70.6 million or $0.95 per share, compared to $28.4 million or $0.37 per share for the year-ago quarter.
The year-ago results included a non-cash, after-tax charge for the impairment of goodwill of $32.9 million, or $0.43 per share, to finalize the estimated goodwill impairment charge the company recorded in the third quarter. URS' 2011 fourth quarter results also included a non-cash, after-tax charge of $1.7 million, or $0.02 per share, related to the retirement of the company's prior credit facility, and the $5.5 million, or $0.07 per share, after-tax charge related to the restructuring of URS' international operations in Europe.
Excluding items, adjusted net income for the year-ago quarter was $68.5 million or $0.89 per share.
Revenues for the fourth quarter rose to $2.97 billion from $2.39 billion a year ago.
Analysts polled by Thomson Reuters expected the company to earn $0.95 per share on revenue of $2.96 billion for the fourth quarter.
URS also said that its Board of Directors has approved a 5% increase in its regular quarterly cash dividend to $0.21 per share. The dividend will be paid on April 5 to stockholders of record as of March 15.
Looking forward to fiscal 2013, the company forecast revenues of $11.8 billion to $12.2 billion and earnings of $4.25 to $4.75 per share. Analysts currently expect the company to earn $4.50 per share on revenue of $12.13 billion for the fiscal year 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.