Aecom Technology : AECOM Reports Strong Net Income, Revenue, Backlog for Third Quarter of Fiscal 200708/08/2007 | 13:00
AECOM Technology Corporation (NYSE: ACM), a leading provider of
professional technical and management support services for government
and commercial clients around the world, announced today its financial
results for the third quarter of fiscal year 2007 ended June 30, 2007.
AECOM reported net earnings of $24.2 million for the third quarter, or
diluted earnings per share (EPS) of $0.26. This represents an increase
of 82% over net earnings of $13.3 million for the same period last year.
These results include a one-time pre-tax cost of approximately $3.2
million, or $0.02 EPS, associated with a make-whole payment incurred
upon the early retirement payment of debt.
Third-quarter revenue increased to $1.1 billion, 21% higher than the
third quarter of fiscal year 2006. For the first nine months of fiscal
year 2007, AECOM reported revenue of $3.1 billion, which is 24% higher
than the first nine months of fiscal year 2006. Additionally, the
company has reported revenue totaling more than $4 billion for the last
12 months ended June 30, 2007.
?Solid growth, across our practice areas and
throughout our global operations, contributed to positive results in our
fiscal third quarter,? said John M. Dionisio,
AECOM president and chief executive officer. ?These
results reflect the success of our growth and diversification
strategies, and the strength of our end markets.?
Business Segments
In addition to providing consolidated financial results, AECOM reports
separate financial information for its two segments: Professional
Technical Services (PTS) and Management Support Services (MSS).
The PTS segment delivers planning, consulting, architecture and
engineering design, and program and construction management services to
institutional, commercial and government clients worldwide. For the
third quarter of fiscal 2007, the PTS segment reported revenue of $903.4
million and operating income of $50.7 million, compared to revenue of
$720.3 million and operating income of $34.6 million for the same period
in fiscal year 2006.
The MSS segment provides facilities management and maintenance,
training, logistics, consulting, technical assistance and systems
integration services, primarily for agencies of the U.S. government. For
the third quarter of fiscal year 2007, the MSS segment reported revenue
of $196.3 million and operating income of $9.3 million, compared to
revenue of $190.7 million and operating income of $6.5 million for the
same period in fiscal year 2006.
Outlook
AECOM announced backlog and selected-not-booked totaling $6.2 billion at
June 30, 2007, a 25% increase year over year and a 30% increase year to
date.
?Our end market activity continues to grow, as
we win projects at a strong pace and build our global book of business,?
said Michael S. Burke, AECOM executive vice president, chief corporate
officer and chief financial officer. ?Based on
these results, we expect our fully diluted earnings per share results
for fiscal year 2007 to be in the range of $1.09 to $1.11.?
AECOM is hosting a conference call today at 11 a.m. EDT, during which
management will make a brief presentation focusing on the company's
results, strategies and operating trends. Interested parties can listen
to the conference call and view accompanying slides via webcast on the
Internet at www.aecom.com. The
webcast will be available for replay following the call.
About AECOM
AECOM (NYSE: ACM) is a global provider of professional technical and
management support services to a broad range of markets, including
transportation, facilities, environmental and energy. With more than
31,000 employees around the world, AECOM is a leader in all of the key
markets that it serves. AECOM provides a blend of global reach, local
knowledge, innovation and technical excellence in delivering solutions
that enhance and sustain the world's built,
natural and social environments. AECOM serves clients in more than 60
countries and has achieved annual revenue of more than $4 billion for
the past 12 months. More information on AECOM and its services can be
found at www.aecom.com.
Forward-Looking Statements: All statements in this press release other
than statements of historical fact are ?forward-looking
statements? for purposes of federal and state
securities laws, including any projections of earnings or other
financial items; any statements of the plans, strategies and objectives
for future operations; and any statements regarding future economic
conditions or performance. Although we believe that the expectations
reflected in any of our forward-looking statements are reasonable,
actual results could differ materially from those projected or assumed
in any of our forward-looking statements. Important factors that could
cause our actual results, performance and achievements, or industry
results to differ materially from estimates or projections contained in
forward-looking statements include: uncertainties related to funding,
audits, modifications and termination of long-term government contracts;
losses under fixed-price contracts; limited control over operations run
through our joint venture entities; misconduct by our employees or
consultants or our failure to comply with laws or regulations; failure
to successfully execute our merger and acquisition strategy; the need to
retain and recruit key technical and management personnel; and
unexpected adjustments and cancellations related to our backlog.
Additional factors that could cause actual results to differ materially
from our forward-looking statements are set forth in our reports with
the Securities and Exchange Commission. We do not intend, and undertake
no obligation, to update any forward-looking statement.
|
AECOM Technology Corporation
Condensed Consolidated Statements of Income
(unaudited?in thousands, except per
share data)
|
|
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
June 30,
2006
|
|
June 30,
2007
|
|
June 30,
2006
|
|
June 30,
2007
|
|
|
|
|
|
|
|
|
|
|
|
Revenue
|
|
$
|
911,486
|
|
$
|
1,100,656
|
|
$
|
2,517,213
|
|
$
|
3,122,914
|
|
Cost of revenue
|
|
678,581
|
|
788,565
|
|
1,855,246
|
|
2,278,531
|
|
Gross profit
|
|
232,905
|
|
312,091
|
|
661,967
|
|
844,383
|
|
|
|
|
|
|
|
|
|
|
|
Equity in earnings of joint ventures
|
|
1,554
|
|
3,992
|
|
4,117
|
|
7,628
|
|
General and administrative expenses
|
|
209,340
|
|
270,401
|
|
591,161
|
|
738,376
|
|
Income from operations
|
|
25,119
|
|
45,682
|
|
74,923
|
|
113,635
|
|
|
|
|
|
|
|
|
|
|
|
Minority interest in share of earnings
|
|
3,022
|
|
3,824
|
|
8,503
|
|
9,058
|
|
Gain on the sale of equity investment
|
|
--
|
|
--
|
|
--
|
|
11,286
|
|
Interest expense ? net
|
|
2,528
|
|
6,312
|
|
10,318
|
|
9,615
|
|
Income before income tax expense
|
|
19,569
|
|
35,546
|
|
56,102
|
|
106,248
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense
|
|
6,262
|
|
11,360
|
|
17,953
|
|
35,343
|
|
Net income
|
|
$
|
13,307
|
|
$
|
24,186
|
|
$
|
38,149
|
|
$
|
70,905
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share:
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
0.24
|
|
$
|
0.30
|
|
$
|
0.66
|
|
$
|
1.09
|
|
Diluted
|
|
$
|
0.18
|
|
$
|
0.26
|
|
$
|
0.55
|
|
$
|
0.85
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding:
|
|
|
|
|
|
|
|
|
|
Basic
|
|
55,762
|
|
80,915
|
|
54,242
|
|
64,948
|
|
Diluted
|
|
73,882
|
|
92,037
|
|
69,804
|
|
83,013
|
|
AECOM Technology Corporation
Balance Sheet Information
(in thousands)
|
|
|
|
|
|
|
|
|
|
September 30,
2006
|
|
June 30,
2007
|
|
|
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet Information:
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
127,870
|
|
|
$
|
343,073
|
|
Working capital
|
|
|
201,323
|
|
|
|
581,563
|
|
Total debt
|
|
|
137,455
|
|
|
|
63,482
|
|
Total stockholders' (deficit) / equity
|
|
|
(290,894
|
)
|
|
|
1,283,905
|
AECOM Technology Corporation Paul Gennaro, 212-973-3167 SVP &
Chief Communications Officer paul.gennaro@aecom.com
© Business Wire 2007
| Dernières actualités sur AECOM TECHNOLOGY |
|
|
| |
|
|  |
|
|
|
- 28/07/2008 10:41:00
AECOM TECHNOLOGY : AECOM finalise le rachat d'Earth Tech
|
|
|
|
|
|
|