Aegion Q1 Profit Rises - Quick Facts

(RTTNews) - Aegion Corporation (AEGN) reported that its first-quarter net income attributable to company increased to $4.40 million from $2.71 million. Earnings per share from continuing operations was $0.12 compared to $0.09. Excluding adjustments, net income from continuing operations totaled $4.8 million, or $0.13 per share, in the first quarter of 2014.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.10 for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $306.23 million from $225.98 million. Analysts expected revenue of $271.50 million for the quarter.

Joseph Burgess, Aegion's CEO, said: "The results in the first quarter were ahead of our expectation as the North American operations of our Water and Wastewater platform increased crew utilization and productivity due to more favorable weather conditions in the month of March. The performance of our other businesses was within prior expectations. We believe market conditions remain favorable for the key businesses that are predicted to drive our performance in 2014."

The company affirmed its outlook for the full year and expectations for non-GAAP earnings per share from continuing operations to be in the range of $1.50 to $1.70. Analysts expect the company to report full year 2014 earnings per share of $1.59.