KBR Q2 Net Income Widens
For the second quarter of 2010, the company posted an operating income of $199m, compared to $137m for the same period in 2009. Total revenue was $2.67 billion, compared to $3.1billion for the same period in 2009.
For the six months of 2010, the company posted a net income of $181m, compared to $178m for the same period in 2009. Total revenue was $5.3 billion, compared to $6.3 billion for the same period in 2009.
Operating income was $298m for the six months of 2010, compared to $281m for the same period in 2009.
KBR anticipates that the 2010 LogCAP revenues will now be approximately 60 percent of the 2009 levels, an increase from the approximate 50 percent reflected in the previous guidance. Full year 2010 guidance for earnings per diluted share is $1.75 to $2.
Bill Utt, chairman, president, and CEO of KBR, said: “Overall, I am pleased with the quarter's results in what continues to be a challenging global business environment. In our North American engineering and construction markets as well as in our international infrastructure and minerals markets, we are seeing economic recovery coming at slower rates than we had envisioned at the beginning of the year.
“We expect these markets to continue to recover over time, but at perhaps a slower, more measured pace. Looking forward, I am pleased with the execution in all KBR's operating businesses and the ability for these businesses to capture the opportunities we are seeing in the marketplace.”
Will the company further increase net income in Q3?
Have your say and discuss with your peers on the InfoGrok community.
Participate by posting your comments now.