URS Raises 2009 Outlook, But Falls Short Of Street

SAN FRANCISCO (AP) — URS Corp. on Wednesday raised its forecast for full-year profit, but adjusted for the sale of a unit, the new projection comes in below Wall Street expectations. Shares slipped in after-hours trading.

URS now expects that fiscal 2009 earnings per share will be in the range of $3.20 and $3.35, up from previous expectations of $2.80 and $2.95.

The full-year 2009 impact from the MIBRAG sale is expected to be 37 cents per share, implying adjusted profit expectations in a range between $2.83 and $2.98 per share.

The company expects revenue between $9.4 billion and $9.8 billion.

Analysts polled by Thomson Reuters, on average, expect adjusted profit of $3.01, with estimates ranging from $2.90 to $3.15. Wall Street sees revenue at $9.86 billion, with estimates ranging from $9.7 billion to $10.05 billion.

In aftermarket electronic trading, URS shares fell $1.42, or 2.8 percent, to $49.17. The stock closed the regular session up $1.31, or 2.7 percent, at $50.59.