TRC Announces Strong Third-Quarter Fiscal 2015 Financial Results
Net Service Revenue Up 15% and Operating Income Up 185% From Prior Year Third Quarter
(firmenpresse) - LOWELL, MA -- (Marketwired) -- 05/06/15 -- (NYSE: TRR), a recognized leader in engineering, consulting and construction management services to the , and markets, today announced financial results for the fiscal third quarter ended March 27, 2015.
(1) The Company believes net service revenue (NSR) best reflects the value of services provided and is the most meaningful indicator of revenue performance.
"TRC delivered a strong performance in all three of our segments during the third quarter," said Chris Vincze, Chairman and Chief Executive Officer. "Overall NSR increased 15%, and operating income nearly tripled, driven by strong fundamentals in all of our markets. Additionally, this year''s third quarter was impacted less by the weather and medical cost issues that affected results in the same period last year.
"In our Environmental segment, NSR increased 22%, and profit increased 28%, on steady demand throughout the segment. Energy segment NSR was up 5%, while segment profit increased 10%, due to new project demand and efficient resource management. In the Infrastructure segment, NSR increased 19%, and segment profit rose 99%, resulting from project execution and receipt of pending change orders," Vincze said.
"We continue to execute a profitable growth strategy across our three segments," Vincze added. "The Infrastructure segment, where backlog grew 56% in the quarter, is gaining momentum as several states have deployed significant capital projects. In the Energy segment, we are seeing increased demand from renewables as states such as California push for increasing energy efficiency and reduced carbon emissions. In addition, high levels of capital continue to be spent upgrading transmission and distribution assets. Meanwhile, in our Environmental segment, focused project execution and recent acquisitions are contributing to our growth and profitability. We have a strong balance sheet to support our growth through ongoing organic investments and strategic acquisitions, and we are optimistic about the remainder of fiscal 2015."
TRC will broadcast its financial results conference call today, May 6, 2015 at 9 a.m. ET. To listen to the live webcast and access the accompanying presentation slides, visit the "" section of TRC''s website at . The call also may be accessed by dialing (877) 407-5790 or (201) 689-8328. A webcast replay will be available on the Company''s website for approximately 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 and at (at)TRC_Companies 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, 2014, and other factors included from time to time in the Company''s other subsequent filings with the Securities and Exchange Commission.
Andrew Blazier
Senior Associate
Sharon Merrill
(617) 542-5300
Thomas W. Bennet, Jr.
CFO
(978) 970-5600
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Datum: 06.05.2015 - 05:00 Uhr
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News-ID 1356826
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