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  • Friday, April 19, 2024

URS Corp. 2Q Revenue Up 4%, Oil & Gas Jumps 74%

URS logoURS Corp. (NYSE: URS) recorded a 4 percent year-over-year increase in revenue for the second quarter of its 2013 fiscal year that ended June 28, the company said in its Tuesday earnings release.

The San Francisco-based engineering and construction contractor also recorded $67.3 million in net income for the quarter, an approximate $14 million increase over figures for the second quarter of fiscal 2012.

“Infrastructure revenues increased by 9% during the second quarter, reflecting the recovery of this market, while results for our other market sectors – power, industrial and federal – were in line with our expectations for the quarter, ” said Martin Koffel, URS chairman and CEO.

“We generated $40.6 million in operating cash flows during the second quarter and $90.3 million in the first half of 2013, ” Koffel said.

Revenue for the company’s oil and gas sector grew 71 percent year-over-year despite adverse weather conditions and flooding in western Canada, which the company said halted some work during May and June.

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