URS Q3 Profit Down, Cuts FY Outlook

(RTTNews) - URS Corp. (URS), a provider of engineering and technical services, Tuesday reported third-quarter net income of $88.8 million or $1.20 per share, compared to $106.7 million or $1.43 per share last year.

Analysts polled by Thomson Reuters expected the company to earn $1.20 per share for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the third quarter were $2.74 billion, compared with $2.95 billion last year. Analysts estimated revenues of $2.96 billion for the quarter.

Looking forward to the full year 2013, the company now expects earnings of $4.10 and $4.25 per share and revenues of $11.0 billion and $11.5 billion.

Analysts currently estimate earnings of $4.27 per share on revenues of $11.53 billion for the quarter.

Previously, the company expected earning of $4.25 to $4.50 per share and revenues of $11.5 billion to $12.0 billion.