Aecom’s Quarter Beats Expectations

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Aecom Technology Corp. on Wednesday reported 48 percent higher profits in its fiscal fourth quarter, which exceeded Wall Street expectations.

Los Angeles-based Aecom, which provides professional, technical and management support services for government and commercial clients, reported net income of $43.5 million (40 cents per share), compared with net income of $29.4 million (29 cents) a year ago. Revenue rose 46 percent to $1.63 billion.

The consensus of analysts surveyed by Thomson First Call expected earnings of 37 cents a share on revenue of $1.55 billion.

For the full fiscal year 2008, AECOM reported net income of $147 million ($1.40)

In fiscal 2009, it expects earnings per share to be in the range of $1.60 to $1.70, compared with the analysts’ average of $1.63.

“Our results were marked by solid, sustained growth across our practice areas and throughout virtually all our global operations,” said Chief Executive John M. Dionisio in a statement. “We finished the fiscal year with a number of key wins that reflect the continued demand in the global infrastructure market.”

Shares closed up $1.18, or 7 percent, to $18.78 on the New York Stock Exchange.

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