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| SNC-Lavalin announces 2008 third quarter and nine month results Canadian engineering and construction company SNC-Lavalin Group Inc announced its results for the third quarter and nine-month periods ended September 30, 2008. For the third quarter of 2008, net income was $91.3 million ($0.60 per share on a diluted basis) compared to a net income of $63.2 million ($0.41 per share on a diluted basis) for the third quarter of 2007. The increase is mainly due to higher operating income in the Mining & Metallurgy and Infrastructure & Environment segments. For the first nine months of 2008, net income was $237.6 million ($1.56 per share on a diluted basis) compared to $84.5 million ($0.55 per share on a diluted basis) for the corresponding period in 2007. Revenues for the nine-month period ended September 30, 2008 increased by 8.9% to $5.2 billion compared to $4.7 billion for the same period in 2007. The company's backlog for its four revenue categories: Services, Packages, Operations & Maintenance and Infrastructure Concession Investments, remained strong at $9.7 billion at the end of September 2008 compared to $9.4 billion at the end of June 2008, and $9.8 billion at the end of September 2007. The company's return on average shareholders' equity was 29.7% for the 12-month period ended September 30, 2008, compared to 14.9% for the same period last year. write your comments about the article :: © 2008 Construction News :: home page |