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Monday, November 09, 2009
Fluor Posts Lower Profit, Names COO
By Shawn Langlois
MarketWatch Pulse
SAN FRANCISCO -- Fluor Corp. on Monday reported a third-quarter profit of $162 million, or 89 cents a share, down from $182 million, or $1.00 a share, a year ago. Revenue fell 4% to $5.4 billion. Analysts polled by FactSet Research were looking for earnings, on average, of 90 cents a share on sales of $5.5 billion. For the full year, the engineering and construction giant said it expects to report a profit in a range of $3.75 to $3.90 a share. Wall Street previously forecast a 2009 profit of $3.86 a share. Separately, Fluor appointed David Seaton to the newly created position of chief operating officer.
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