URS Corp. announced strong results for its latest fiscal year, ending Jan. 2, relecting the full benefits of its 2007 acquisition of Washington Group Inc. and strength in core federal and infrastructure markets. Company executives are confident the firm is postioned strongly enough in key markets to weather current economic difficulties and be optimistic about 2010. The engineering-contracting giant reported nearly $10.1 billion in revenue for its fiscal 2008, up 87.4% from the previous year. Net income increased 66.3% to nearly $220 million, which Chairman and CEO Martin M. Koffel labeled "record profits." Koffel attributed margin improvements largely to cost
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.