AECOM Technology Corp., Los Angeles, gave investors some positive news in its first-quarter 2010 earnings announcement, released on Feb. 9, reporting revenue up 2%, to $1.5 billion, for the three months ending Dec. 31, 2009, compared to the same period a year earlier. Backlog jumped 11% in the quarter to $10 billion, and net income increased 12%, to $46 million, over last year.
Through a steady stream of acquisitions, the firm has broadened its reach and made results less sensitive to a falloff in one sector of the economy or world. The company acknowledged that first-quarter operating income decreased 5% year-over-year because of a onetime charge of $8.2 million linked to layoff and severance costs in the U.K. as well as the expense of launching a global branding initiative. But the design firm says it is “on track” to meet earnings targets in 2010.