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UPDATE 1-Tutor Perini 4th-qtr misses estimates
March 1, 2012 / 9:57 PM / 6 years ago

UPDATE 1-Tutor Perini 4th-qtr misses estimates

* Q4 EPS $0.50 vs est $0.75

* Q4 revenue up 62 pct

* Sees 2012 EPS $2.10-$2.30 vs est $2.52

* Sees 2012 rev $4.5-$5 bln vs est $4.6 bln

March 1 (Reuters) - Civil and building construction company Tutor Perini Corp posted lower-than-expected quarterly results, hurt by weakness at its building segment, but forecast full-year revenue largely above analysts’ estimates.

The company, which builds hotels, casinos, healthcare facilities and highways, forecast 2012 revenue of $4.50-$5 billion, compared with analysts’ average estimate of $4.60 a share, according to Thomson Reuters I/B/E/S.

For the fourth quarter, net income was $24 million, or 50 cents a share, compared with $18.9 million, or 40 cents a share a year ago.

Revenue rose 62 percent to $1.11 billion. Building segment revenue was flat at $446 million.

Analysts, on average, had expected earnings of 75 cents a share, before special items, on revenue of $1.17 billion in the fourth quarter.

Shares of the Sylmar, California-based company closed at $16.04 on Thursday on the New York Stock Exchange. They have gained over half their value in the last five months. (Reporting by Kartick Jagtap in Bangalore; Editing by Maju Samuel)

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