This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

URS Corporation's CEO Discusses Q4 2011 Results - Earnings Call Transcript

A webcast of this call is available on the investor relations portion of our website and will be archived in audio form on the website for a limit period. And with that, I’ll turn the call over to Martin Koffel, our Chairman and Chief Executive Officer.

Martin M. Koffel

Good afternoon and thank you for joining us. In addition to Tom, I have with me here in San Francisco Gary Jandegian, president of infrastructure and environment; Randy Wotring, president of federal services; Bob Zaist, president of energy and construction; Martin Tanzer, executive vice president of marketing; Reed Brimhall, corporate controller and chief accounting officer, and Sam Ramraj, vice president of investor relations.

Just a week ago, we announced our proposed acquisition of Flint Energy Services, and this is a significant expansion of our business that should position us well in the attractive segments of the oil and gas industry, especially in North American oil, oil sands, and gas, and we expect the acquisition to be completed in the second quarter and to be accretive in 2012.

At the same time, we stated that we expect growth in both revenue and earnings per share in 2012 without the benefit of Flint, and at that time we provided you with revenue net income and EPS guidance. In our earnings release today, we announced 2011 results and we reaffirmed the 2012 guidance. We also announced that we have initiated a regular quarterly cash dividend program starting in April.

Accordingly, today’s call will focus on 2011 results and the outlook for the current year, and given that the Flint acquisition has not yet closed, our comments on the outlook will only relate to our current business.

Operationally, we performed well in North America in 2011. All of our businesses in the United States and Canada met or exceeded expectations, but were affected by challenging economic conditions in Europe and in the Middle East, and I’ll talk more about this. But first I’d like to summarize the results.

2 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs