Q4 2012 Earnings Call Transcript

Transcript Call Date 11/13/2012

Operator: Good morning and welcome to the AECOM Fourth Quarter and Full Year Fiscal 2012 earnings conference call. I would like to inform all participants this call is being recorded at the request of AECOM. This broadcast is the copyrighted property of AECOM. Any rebroadcast of this information in whole or part without the prior written permission of AECOM is prohibited.

As a reminder, AECOM is also simulcasting this presentation with slides at the Investors section at Later we will conduct a question-and-answer session.

I would like to turn the call over to Lynn Antipas Tyson, Senior Vice President, Investor Relations.

Lynn Antipas Tyson - SVP, IR: Thank you, operator. Before we begin I want to make sure that you are aware that we will be holding our annual analyst meeting on December 4 in New York City. If you have not received an invitation and are interested in attending, please let me know.

I remind everyone that today's discussion contains forward-looking statements based on the environment as we see it today and, as such, does include risks and uncertainties. As you know, our actual results might differ materially from those projected in those forward-looking statements.

Please refer to our press release or Slide 2 of our earnings presentation and to our reports filed with the SEC for more information on the specific risk factors that could cause actual results to differ materially.

Note that we are using some non-GAAP financial measures as references in the presentation. The appropriate GAAP financial reconciliations are posted on our website. Please also note that unless otherwise mentioned, all gross percentages refer to year-over-year progress, and all profit references are on an adjusted basis.

Beginning today's presentation is John Dionisio, Chairman and Chief Executive Officer. John?

John M. Dionisio - Chairman and CEO: Thank you, Lynn. Good morning, everyone, and thanks for joining our call. With me today are Mike Burke, President; Steve Kadenacy, Chief Financial Officer; and Jane Chmielinski, Chief Operating Officer.

Before we begin our discussion on the quarter, I'd like to take a moment to acknowledge the efforts of everyone involved in the recovery following tropical storm Sandy. The exceptional professionalism on display by everyone helping our communities recover is nothing short of inspiring. As many of you on this call know, we have employees, who live and work in areas that have been significantly impacted by this devastating storm, so we are particularly sensitive to its impact. We are working closely with our clients to ensure the affected areas recover stronger than they were before.

Now, turning to our results. As you have seen in our press release, in the quarter we took a non-cash goodwill impairment charge. The impairment was isolated to two areas of our business, and it in no way impacts our ability to execute on a broader basis. Steve will discuss the charge in more detail in his section.

Our results for the quarter clearly demonstrate the progress we've made to drive our performance culture committed to improve growth, profitability, and liquidity. Our client centric focus drove a 3% increase in backlog to $16 billion, supported by record wins in the Americas.

Read our Earnings Call Transcript disclaimer.
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