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

Finally, our 2011 results include a $5.5 million, or $0.07 per share, after-tax charge related to a restructuring of our international operations. As I noted, the performance of our international operations has been affected by the economic turbulence in Europe and the impact of the Arab Spring in the Middle East.

In the fourth quarter, we took actions to address the slowdown, including reducing our work forces in these markets and consolidating systems and offices. Early results would indicate that these actions have been successful and we now have our international operations on a solid footing.

Including these charges, we reported a net loss of $465.8 million, or $6.03 per share. Excluding these charges, net income as adjusted for both years, was $274.2 million in 2011 compared with $267 million in 2010. EPS, as adjusted for both years, were $3.53 in 2011 compared to $3.28 per share in 2010.

Reconciliation of net income and earnings per share with and without those charges is provided in the reconciliation schedule available on our website at www.urs.com and in our earnings press release.

Read the rest of this transcript for free on seekingalpha.com

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