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| Hill International reports 2Q 2009 financial results Hill International, the global leader in managing construction risk, announced financial results for the second quarter ended June 30, 2009 and for the first six months of 2009. Total revenue for the second quarter of 2009 grew to $104.3 million, an increase of 7.7% from the second quarter of 2008. Operating profit for the second quarter of 2009 improved to $6.5 million, an increase of 14.8% from the second quarter of 2008. Net earnings in the second quarter of 2009 grew to $4.7 million (or $0.12 per diluted share based on 40.3 million diluted shares), up 24.3% from the second quarter of 2008. Total backlog at the end of the second quarter of 2009 increased to $611 million from $598 million at March 31, 2009. Twelve-month backlog at the end of the second quarter of 2009 grew to $279 million from $270 million at March 31, 2009. Total revenue for the first six months of 2009 rose to $208.3 million, an increase of 17.2% from the first six months of 2008. Operating profit for the first six months of 2009 declined to $10.8 million, a decrease of 3.1% from the first six months of 2008, principally due to previously disclosed first quarter 2009 items such as currency devaluations, an increase in bad debt expense and costs incurred in connection with a discontinued acquisition. Net earnings for the first six months declined to $9.1 million (or $0.22 per diluted share based on 40.7 million diluted shares), down 14.3% from the first six months of 2008. write your comments about the article :: © 2009 Construction News :: home page |