First-quarter diluted earnings per share increased 20% year over year to 48 cents.
Net income from continuing operations for the first quarter increased 25% year over year to $57 million.
Revenue for the first quarter increased 31% year over year to $1.9 billion.
Revenue, net of other direct costs, for the first quarter increased 26% year over year to $1.2 billion.
Organic revenue, net of other direct costs, for the first quarter increased 7% year over year.
Total backlog at Dec. 31, 2010, increased 55% year over year to $15.5 billion.
Diluted earnings per share range outlook increased to $2.25 to $2.35 for full fiscal year 2011.
AECOM Technology Corporation, announced today its financial results for the first quarter of fiscal year 2011, which ended Dec. 31, 2010.
AECOM reported net income from continuing operations of $57 million for the first quarter and diluted earnings per share (EPS) of 48 cents for the first quarter. This represents an increase of 25% over net income from continuing operations of $46 million and an increase of 20% over diluted earnings per share of 40 cents for the same period last year.
First-quarter revenue was $1.9 billion, a 31% increase from the first quarter of fiscal year 2010. AECOM’s gross revenue includes a significant amount of pass-through costs and, therefore, the company believes that revenue, net of other direct costs, which is a non-GAAP measure and excludes such pass-through costs, also provides a valuable perspective on its business results.
First-quarter revenue, net of other direct costs, was $1.2 billion, representing a 26% increase over the same period last year. Organic revenue, net of other direct costs, for the first quarter increased 7% year over year. Organic revenue excludes revenue from companies acquired in the last 12 months.
“We saw strong organic-growth improvements in both revenue and backlog during the first quarter,” said John M. Dionisio, AECOM president and chief executive officer. “Growth was driven primarily by AECOM’s increasing presence in high-growth, emerging markets and economies that export natural resources.
“We are poised for continued, strong performance as we capitalize on new organic-growth opportunities, drive revenue synergies from recent acquisitions and seize new opportunities created through increased cross-selling and the anticipated growth of alternative delivery procurement and public-private partnerships,” Dionisio said.
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).
Professional Technical Services
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 first quarter of fiscal year 2011, the PTS segment reported revenue of $1.6 billion and operating income of $92 million. This represents an increase of 31% from revenue of $1.2 billion for the same period last year and an increase of 24% over operating income of $74 million for the same period last year.
PTS revenue, net of other direct costs, increased 23% for the first quarter of fiscal year 2011 to $1.1 billion.
Management Support Services
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 first quarter of fiscal year 2011, the MSS segment reported revenue of $360 million and op…