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said results for November and December, which will be reported as a separate period because of the company's change to a calendar fiscal year in 2001, will be reduced by a compensation charge.

As a result of the recent reverse spinoff of

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Massey Energy


, the shortened period will reflect a charge for the conversion of existing Fluor stock-based awards to new Fluor stock-based awards. Depending on the final closing price on Dec. 31, Fluor, which provides engineering, construction and maintenance services, expects the charge to range from $13 million to $17 million, or 17 cents to 22 cents a share.

Additionally, the company, based in Aliso Viejo, Calif., indicated that earnings for the first quarter ending March 31 should be 35 cents to 40 cents a share. Fluor also confirmed a full-year earnings expectation of $2 a share.