Hill International Reports Fourth Quarter And Full Year 2010 Financial Results

MARLTON, N.J., March 7, 2011 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today financial results for the fourth quarter and full year ended December 31, 2010 (see attached tables). Total revenue for the fourth quarter of 2010 grew to a record $128.1 million, an increase of 16.1% from the fourth quarter of 2009. Consulting fee revenue for the fourth quarter of 2010 rose to a record $101.2 million, an increase of 8.1% from the fourth quarter of 2009.

Operating profit for the fourth quarter of 2010 was $5.3 million, a decrease of 28.7% from the fourth quarter of 2009. Net earnings for the fourth quarter were $3.8 million (or $0.10 per diluted share based on 38.9 million diluted shares), down 17.2% from the prior year's quarter.

Total backlog at the end of the fourth quarter of 2010 increased to a record $675 million from $599 million at the end of the third quarter of 2010. Twelve-month backlog at the end of the fourth quarter of 2010 increased to $275 million from $255 million at the end of the third quarter of 2010.

"We are pleased with Hill's financial performance during the fourth quarter," said Irvin E. Richter, Hill's Chairman and Chief Executive Officer. "We continue to see improving markets for our services and we have positive expectations heading into 2011 especially given our strong growth in backlog during the quarter," added Richter.

Full Year 2010 Results

Total revenue for 2010 rose to $451.8 million, an increase of 7.1% over 2009. Consulting fee revenue for 2010 grew to $382.1 million, an increase of 5.0% over 2009.

Operating profit for 2010 was $18.6 million, a decrease of 29.7% from 2009.  Net earnings for 2010 declined to $14.2 million (or $0.36 per diluted share based on 39.8 million diluted shares), down 27.0% from 2009.