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.
