TRC Announces Fourth-Quarter and Fiscal Year 2012 Financial Results
Fourth-Quarter Net Service Revenue Grows 13%; Company Achieves Full-Year NSR Growth of 23% to More Than $300 Million
(firmenpresse) - LOWELL, MA -- (Marketwire) -- 09/12/12 -- (NYSE: TRR), a recognized leader in engineering, consulting and construction management services to the , and markets, today announced financial results for the fiscal three months and year ended June 30, 2012.
"Fiscal 2012 was a milestone year for TRC," said Chairman and Chief Executive Officer . "We concluded the year with solid fourth-quarter results, generating NSR growth of 13% and $5.8 million of net income as we executed on our strategy to profitably grow the business and strengthen TRC as a leader in the energy and power industries."
"Our Energy segment has been a steady contributor to TRC's overall growth. In the fourth quarter, NSR for this segment increased 27% and profit was up 31% fueled by our utility clients' continued investment in their electric transmission and distribution systems. A renewed focus on capital programs for electric system reliability and energy efficiency, as well as our expanded geographic presence, are also contributing to our success in Energy."
"During the quarter, NSR for the Environmental segment was up 13%, and profit increased 55% as we benefited from the expanded geographic reach of acquired businesses. Organic growth in this segment was constrained by overall federal policy uncertainty, but opportunities are increasing related to regional shale-gas and other developments in the power/energy industry."
"Throughout fiscal 2012, government funding constraints at all levels have challenged our Infrastructure segment. In the fourth quarter, NSR decreased 8% while profit was 12% lower. Nevertheless, Infrastructure finished the year with 3% NSR growth and 33% profit growth."
"We believe the outlook for each of TRC's segments is promising. Capital planning in the energy and power markets should drive demand for TRC's energy and environmental services once federal policy is clarified and stabilized. Some improvement in the infrastructure market should occur over the next few years with the recent passage of the MAP-21 Federal Transportation Bill, and long-term prospects remain strong due to urban population growth and the need to fix our nation's aging infrastructure."
"Our results in fiscal 2012 demonstrate that TRC is well positioned for further margin improvement and continued growth. We have the financial flexibility to execute our two-pronged profitable growth strategy. The first element of our strategy focuses on organic growth through national programs centered on key accounts and service bundling, such as our RE Power offering. The second element is targeting acquisitions that enhance our portfolio of services and continue geographic expansion, particularly in our Energy and Environmental segments. We are encouraged by our prospects as we enter fiscal 2013."
The Company will broadcast its financial results conference call today, at 9 a.m. ET. Those who wish to listen to the conference call should visit the "" section of TRC's website at . The call may also be accessed by dialing (877) 709-8155 or (201) 689-8881 prior to the start of the call. For interested individuals unable to join the live conference call, a webcast replay will be available on the Company's website for one year.
A pioneer in groundbreaking scientific and engineering developments since the 1960s, TRC is a national engineering, consulting and construction management firm that provides integrated services to the , and markets. TRC serves a broad range of clients in and industry, implementing complex projects from initial concept to delivery and operation. TRC delivers results that enable clients to achieve success in a complex and changing world. For more information and updates from the Company, visit TRC's website at and follow TRC on Twitter at and on .
Certain statements in this press release may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can identify these statements by forward-looking words such as "may," "expects," "plans," "anticipates," "believes," "estimates," or other words of similar import. You should consider statements that contain these words carefully because they discuss TRC's future expectations, contain projections of the Company's future results of operations or of its financial condition, or state other "forward-looking" information. TRC believes that it is important to communicate its future expectations to its investors. However, there may be events in the future that the Company is not able to accurately predict or control and that may cause its actual results to differ materially from the expectations described in its forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, and actual results may differ materially from those discussed as a result of various factors, including, but not limited to, the uncertainty of TRC's operational and growth strategies; circumstances which could create large cash outflows, such as contract losses, litigation, uncollectible receivables and income tax assessments; regulatory uncertainty; the availability of funding for government projects; the level of demand for TRC's services; product acceptance; industry-wide competitive factors; the ability to continue to attract and retain highly skilled and qualified personnel; the availability and adequacy of insurance; and general political or economic conditions. Furthermore, market trends are subject to changes, which could adversely affect future results. See the risk factors and additional discussion in TRC's Annual Report on Form 10-K for the fiscal year ended June 30, 2012, Quarterly Reports on Form 10-Q, and other factors detailed from time to time in the Company's other filings with the Securities and Exchange Commission.
Dennis Walsh
Sharon Merrill
(617) 542-5300
Thomas W. Bennet, Jr.
CFO
(978) 970-5600
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Datum: 12.09.2012 - 11:30 Uhr
Sprache: Deutsch
News-ID 182547
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LOWELL, MA
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Alternative Energy
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