LOS ANGELES–(BUSINESS WIRE)–Feb. 10, 2009– 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 first quarter of fiscal year 2009, which ended December 31, 2008.<\/p>\n
AECOM reported net income of $40.5 million for the first quarter, or diluted earnings per share (EPS) of 38 cents. These results represent an increase of 37% over net income of $29.5 million \u2013 and an increase of 31% over diluted EPS of 29 cents \u2013 for the same period last year. The net income amount does not include $0.4 million of earnings from discontinued operations associated with non-strategic assets acquired as part of the 2008 Earth Tech transaction, which AECOM intends to divest. Operating income for the first quarter increased 57% year over year to $69.7 million.<\/p>\n
First-quarter revenue increased to $1.5 billion, 35% higher than the first quarter of fiscal year 2008. AECOM\u2019s gross revenue includes a significant amount of pass-through costs and, therefore, revenue, net of other direct costs, which is a non-GAAP measure, also provides a valuable perspective on its business results. AECOM\u2019s revenue, net of other direct costs, increased 32% compared to the same period last year, to $889.5 million.<\/p>\n
\u201cOur solid first-quarter results reflect the benefits of AECOM\u2019s diversified global business model,\u201d said John M. Dionisio, AECOM president and chief executive officer. \u201cDuring the quarter, we continued to expand our business in spite of a slowing demand in some of our commercial and private facilities markets. Overall, we saw continued strength and growth in our U.S. businesses as well as our non-U.S. operations. Looking forward, we believe that AECOM is well positioned to benefit from the implementation of stimulus programs around the world.\u201d<\/p>\n
\u201cWe saw continued demand for our services globally throughout the infrastructure market, and this was reflected in our backlog growth during the quarter,\u201d said Dionisio. \u201cProjects such as our work in support of Zayed University\u2019s new campus in Abu Dhabi, major transit expansions in San Francisco and Toronto, and five task order wins for the U.S. Air Force\u2019s Contract Field Teams program, highlight the breadth and diversification of our success.\u201d<\/p>\n
Business Segments<\/b><\/p>\n
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).<\/p>\n
Professional Technical Services<\/b><\/p>\n
The PTS segment delivers planning, consulting, architecture and engineering design, and program and construction management services to institutional, commercial and government clients worldwide.<\/p>\n
For the first quarter of fiscal year 2009, the PTS segment reported revenue of $1.2 billion and operating income of $76.9 million, compared to revenue of $893.4 million and operating income of $53.4 million for the same period during fiscal year 2008. This represents a 38% increase in revenue and a 44% increase in operating income year over year. PTS revenue, net of other direct costs, increased 30% to $846 million.<\/p>\n
Management Support Services<\/b><\/p>\n
The MSS segment provides program and facilities management and maintenance, training, logistics, consulting, technical assistance and systems integration services, primarily for agencies of the U.S. government.<\/p>\n
For the first quarter of fiscal year 2009, the MSS segment reported revenue of $223 million and operating income of $10.0 million, compared to revenue of $187 million and operating income of $3.4 million for the same period during fiscal year 2008. This represents a 19% increase in revenue and a 194% increase in operating income year over year. The year over year comparison for MSS is positively imp…<\/p>\n","protected":false},"featured_media":0,"template":"","yst_prominent_words":[],"class_list":["post-6323","press-release","type-press-release","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/aecom.com\/cn\/wp-json\/wp\/v2\/press-release\/6323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aecom.com\/cn\/wp-json\/wp\/v2\/press-release"}],"about":[{"href":"https:\/\/aecom.com\/cn\/wp-json\/wp\/v2\/types\/press-release"}],"version-history":[{"count":0,"href":"https:\/\/aecom.com\/cn\/wp-json\/wp\/v2\/press-release\/6323\/revisions"}],"wp:attachment":[{"href":"https:\/\/aecom.com\/cn\/wp-json\/wp\/v2\/media?parent=6323"}],"wp:term":[{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/aecom.com\/cn\/wp-json\/wp\/v2\/yst_prominent_words?post=6323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}