Aecom Pulls Out of Libya

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Aecom Technology Corp., which provides technical and management support services around the world, said that it has withdrawn its employees and their families from Libya and was not sure if or when they would return.

The Los Angeles company has been the program manager for the Libya Housing and Infrastructure Board’s program to modernize the country’s infrastructure since 2008. The company declined to say how many people were affected by the evacuation, which was prompted by the ongoing civil unrest in Libya.

Aecom estimated that that the business disruption will result in a reduction of 8 cents per share in earnings in the current quarter, mostly from the cost of evacuation and lost income. But the company believes it will make up the lost revenue elsewhere, and its full-year, per-share profit guidance remains $2.25 to $2.35.

“As a global company with operations in over 100 countries around the world, our diversified business model reduces our exposure to any one geography or single project,” Chief Financial Officer Michael S. Burke said in a statement.

Shares were down 13 cents, or less than a percent, to $28.07 in midday trading on the New York Stock Exchange.

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