(RTTNews) - Infrastructure engineering and design company Aecom Technology Corporation (ACM: News ) Thursday reported higher earnings for the fourth quarter that also surpassed market estimates, helped mainly by an 18% increase in revenues from management support services segment. The company also provided an earnings guidance for fiscal 2010, which is below analysts' current estimates. Aecom shares are currently trading up nearly 5% on the NYSE.

For the fourth quarter, net income attributable to shareholders was $54.24 million or $0.48 per share compared with $43.41 million or $0.41 per share in the prior-year period.

Income from continuing operations increased to $54.09 million or $0.48 per share from $42.75 million or $0.40 per share last year. On an average, 10 analysts polled by Thomson Reuters expected Aecom to report earnings of $0.46 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter edged down to $1.625 billion from $1.629 billion in the fourth quarter of fiscal 2008. Analysts expected the company to generate revenues of $1.67 billion for the quarter.

Revenues, net of other direct costs, were $989.28 million versus $1.01 billion a year earlier. Other direct costs incurred by Aecom increased to $636.21 million from $619.22 million last year.

The Los Angeles, California-based company has two segments: Professional technical services and management support services.
In professional technical services segment, revenues were $1.33 billion versus $1.38 billion in the previous-year period. The segment's revenues, net of other direct costs, decreased 5% to $921.42 million from $964.86 million in the 2008-year period.

In management support services segment, revenues increased to $292.32 million from $246.73 million a year earlier. The division's revenues, net of other direct costs, were $67.86 million versus $45.03 million in the same quarter last year.

During the three-month period, income tax expense incurred by the company decreased to $19.92 million from $20.30 million, and general and administrative costs were $25.65 million versus $25.67 million in the corresponding period prior year. Aecom had an other income of $4.67 million compared with an expense of $2.57 million in the previous year quarter.

President and chief executive officer John Dionisio said, "During the quarter, we won over $1.8 billion in new projects, highlighted by several mega projects."

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