Thursday, July 30, 2009

KBR Has Strong Second Quarter

KBR Inc. on Thursday reported a nearly 40 percent increase in second-quarter net income.
The Houston-based engineering and construction company (NYSE: KBR) reported net income for the three months ended June 30, 2009, of $67 million, or 42 cents a share, on revenue of $3.1 billion, compared with net income of $48 million, or 28 cents a share, on revenue of $2.66 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected KBR to have earnings of 41 cents a share.
The company also said in a statement that it had a backlog worth $12.3 billion as of June 30, and a strong balance sheet with cash and equivalents equal to $1.1 billion.
“I am pleased with the strong revenue and operating income growth over the same period last year, which contributed to KBR’s solid earnings in the second quarter of 2009,” said Bill Utt, chairman, president, and chief executive officer of KBR.

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