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13-May-10
San Francisco-based engineering giant URS Corporation reports that its business contracted during the first quarter of 2010 (to 2 April 2010) compared to the same period last year. Despite a reduction in revenue, it achieved growth in “net income” by cutting significantly the amount of tax it must pay. URS' gross revenue during Q1 fell to $2.2 billion, compared to $2.5 billion during the same period last year. While this resulted in a...
URS revenue contracts in Q1, but tax rule delivers hike in profit
13-May-10
San Francisco-based engineering giant URS Corporation reports that its business contracted during the first quarter of 2010 (to 2 April 2010) compared to the same period last year. Despite a reduction in revenue, it achieved growth in “net income” by cutting significantly the amount of tax it must pay. URS' gross revenue during Q1 fell to $2.2 billion, compared to $2.5 billion during the same period last year. While this resulted in a...
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