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Fluor Announces FY2000 Results.
ALISO VIEJO, Calif., Nov. 21 /PRNewswire/ --
Fluor Corporation (NYSE: FLR) today announced earnings from continuing operations, before unusual items, for its fourth quarter ended October 31, 2000, of $34.1 million, or $.45 per share, compared with $33.6 million, or $.44 per share in 1999. As a result of its anticipated spin-off to shareholders, A.T. Massey results were reported as discontinued operations. Excluding spin-off transaction expenses, Massey reported a net loss from operations in the fourth quarter of $4.6 million, or $.06 per share, compared with net earnings of $22.9 million, or $.30 per share in 1999. Results for consolidated operations for the quarter were a net loss of $12.7 million, or $.17 per share, compared with net earnings of $75.8 million, or $1.00 per share a year ago. Revenues from continuing operations were $2.3 billion for the fourth quarter, compared with $2.6 billion in 1999.
For the year, earnings from continuing operations, before unusual items, were $118.4 million, or $1.55 per share, compared with $127.2 million, or $1.68 per share in 1999. Earnings from discontinued operations, before unusual items, were $36.9 million, or $.48 per share, compared with $77.5 million, or $1.02 per share, last year. Net earnings of the consolidated operations in 2000 were $123.9 million, or $1.62 per share, compared with $104.2 million, or $1.37 per share in 1999. Revenues from continuing operations were $10.0 billion for the year, compared with $11.3 billion in 1999.
The fourth quarter 2000 results were impacted by the following unusual items:
-- As previously announced, a pretax charge of $25 million ($17.2 million
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