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| SNC-Lavalin announces its 1Q results for 2012 Canadian engineering firm SNC-Lavalin Group Inc. announced its results for its first quarter ended March 31, 2012. For the first quarter of 2012, net income attributable to SNC-Lavalin shareholders was $67.1 million ($0.44 per share on a diluted basis), compared to $76.1 million ($0.50 per share on a diluted basis) for the comparable quarter in 2011. This variance reflects a lower net income excluding Infrastructure Concession Investments, partially offset by a slightly higher net income from Infrastructure Concession Investments. The net income excluding Infrastructure Concession Investments was $42.0 million, compared to $51.7 million for the first quarter of 2011, reflecting lower contributions from Operations & Maintenance, Hydrocarbons & Chemicals, Other Industries and Infrastructure & Environment, partially offset by better contributions from the Mining & Metallurgy and Power segments. Revenues for the first quarter of 2012 increased by 8.8% to $1.8 billion compared to $1.6 billion in the first quarter of 2011, mainly due to a 39.3% increase in the Services category. Revenue backlog remained strong at $10.5 billion at the end of March 2012, compared to $10.1 billion at the end of December 2011, with increases in all the Company's categories of activity. The Company's financial position remained strong with cash and cash equivalents totalling $1.1 billion as at March 31, 2012. The Company's return on average shareholders' equity was 18.5% for the 12-month period ended March 31, 2012. The Board of Directors declared a cash dividend of $0.22 per share, payable on May 31, 2012 to shareholders of record on May 17, 2012. This dividend is an "eligible dividend" for income tax purposes. write your comments about the article :: © 2012 Construction News :: home page |