Civil and building construction company, Tutor Perini Corp. of Framingham, has reported second quarter net income of $38.9 million, up 36.2 percent from $28.6 million a year ago.

The increase in net income primarily reflects improved profit contributions from the company’s civil and management services segments, including the positive impact in 2009 with the addition of Tutor-Saliba on both of these segments, the firm said.

Net income was $77.9 million for the first six months of the year, compared to net income of $53.7 million for the first six months of 2008.

Revenues from construction operations were $1.38 billion for the second quarter, compared to revenues of $1.39 billion for the second quarter of 2008. On a pro forma basis, including Tutor-Saliba, revenues from construction operations were $1.80 billion for the second quarter of 2008. The decrease in revenues reflects the normal completion of work under contract and a reduced level of new work acquired in 2009 as a result of the challenging economic environment, which has caused some customers to delay the start of new projects, the firm said in a statement. Partly offsetting this decrease were increased revenues in 2009 due to the additions of Tutor-Saliba and Keating Building Corp.

Framingham Construction Firms Enjoys Healthy Q2

by Banker & Tradesman time to read: 1 min
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