AECOM has 20% rise in net income and purchases up-and-coming U.K. company
AECOM, the U.S. company that has taken over several large Canadian consulting engineering companies in the past yea...
AECOM, the U.S. company that has taken over several large Canadian consulting engineering companies in the past years, announced its results for the quarter ending March 31, 2009. The results are for the second quarter of the company’s fiscal year 2009.
The company’s net income was $43 million, an increase of 20% over the net income reported for the same quarter last year. Operating income was $71 million, also an increase of 20% over the same quarter last year. Diluted earnings per share for continuing operations for the second quarter were 40 cents, up 14% from the same period last year.
The company had a backlog totalling $9.2 billion at March 31, 2009.
The news release included a statement relating to its purchase of Earth Tech: “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.”
AECOM also recently announced the purchase of Savant, a project and cost management company with 600 employees. Savant is based in the U.K., Europe, Russia and the Commonwealth of Independent States. The Sunday Times Virgin Fast Track 100 survey in 2008 listed Savant as one of the U.K.’s fastest growing companies, and it won a Queen’s Award for Enterprise in 2009.