KBR Net Income Down (USA)

KBR said that its  fourth quarter 2012 net income was $30 million, or $0.20 per diluted share, compared to net income of $90 million, or $0.60 per diluted share, in the fourth quarter of 2011.

Consolidated revenue in the fourth quarter 2012 was $1.9 billion compared to $2.1 billion in the fourth quarter of 2011. Operating income in the fourth quarter 2012 was $69 million compared to operating income of $136 million in the prior year fourth quarter.

“2012 was, overall, a disappointing year for KBR, where issues at our Minerals and US Construction Business Units offset strong operating performance across our Hydrocarbons Business Group,” said Bill Utt, Chairman, President, and Chief Executive Officer of KBR. “As we begin 2013, we see a robust series of new opportunities across each of our Business Units. The potential opportunity set for KBR is tremendous and I am confident in KBR’s ability to successfully win and execute this work.”

[mappress]
LNG World News Staff, February 21, 2013