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| Aecon reports solid first quarter Aecon Group Inc., Canada's largest publicly traded construction and infrastructure development company, reported solid results in the first quarter of 2009. Revenues in the first quarter of 2009 totalled $341 million, a 13% increase over results reported a year ago. Gross margins (revenues less direct costs and expenses) increased to $32.6 million, from $18.5 million in the same quarter last year. EBITDA (representing income or loss from operations before interest expense, income taxes, depreciation and amortization, and non-controlling interests) increased to $9.8 million, from $4.5 million in the same quarter of 2008. Operating profit (profit from operations before interest expense, income taxes and non-controlling interests) of $1.8 million compares to a first quarter operating loss last year of $1.3 million. Net loss for the quarter of $0.6 million ($0.01 loss per share), compares to net income of $0.3 million in the first quarter of 2008 ($0.01 per share), which included a $3.4 million reversal of a valuation allowance related to Aecon's tax assets. write your comments about the article :: © 2009 Construction News :: home page |