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KBR projects fiscal 2012 profit
Created on Tuesday, 20 December 2011 09:46Category: Financial News Highlights
HOUSTON (AP) — Engineering and construction company KBR Inc. on Tuesday issued a fiscal 2012 profit prediction above current Wall Street predictions, saying it has the flexibility to deal with the uncertainty surrounding the timing of certain projects.
KBR expects 2012 earnings of $2.45 to $2.80 per share, while analysts polled
The news sent KBR shares up $2.32, or 9.7 percent, to $26.31 in midday trading, after peaking at $26.50 earlier in the day. Over the past 52 weeks, the Houston-based company's shares have traded between $20.86 and $39.34.
"We are excited about the series of project opportunities in front of us and feel we have the flexibility within our company to manage around the timing uncertainties in the market today," KBR Chairman and CEO Bill Utt said in a statement.
Courtesy Yahoo News