AECOM Reports Strong Net Income, Revenue, Backlog for Fourth Quarter, Full Year Fiscal 2007




    AECOM reports fourth-quarter diluted EPS of 29 cents on revenue of $1.11
billion and full-year diluted EPS of $1.15 on revenue of $4.2 billion

    --  Fourth-quarter diluted earnings per share of 29 cents.

    --  Full-year diluted earnings per share of $1.15.

    --  Net income for fourth quarter increased 89.2% year over year to $29.4
million.

    --  Net income for year ended September 30 increased 86.8% year over year
to $100.3 million.

    --  Revenue for fourth quarter increased 23.2% year over year to $1.1
billion.

    --  Revenue for year ended September 30 increased 23.8% year over year to
$4.2 billion.

    --  Cash flow from operations increased by 13% to $137 million for year
ended September 30, 2007.

    --  Backlog and Selected-Not-Booked at September 30 increased 25.6% year
over year to $6.0 billion.

    --  Diluted earnings-per-share range outlook of $1.19 to $1.26 provided
for full fiscal year 2008.

    LOS ANGELES, November 27 /CNW/ - AECOM Technology Corporation (NYSE:  
ACM), a leading provider of professional technical and management support
services for government and commercial clients around the world, announced
today its financial results for the fourth quarter and full fiscal year ended
September 30, 2007.

    AECOM reported net earnings of $29.4 million for the fourth quarter, or
diluted earnings per share (EPS) of $0.29. This represents an increase of
89.2% over net earnings of $15.5 million for the same period last year.

    Fourth-quarter revenue increased to $1.1 billion, 23.2% higher than the
fourth quarter of fiscal year 2006.

    For the full fiscal year 2007, AECOM reported net earnings of $100.3
million, or diluted EPS of $1.15. This represents an increase of 86.8% over
net earnings of $53.7 million last year. Revenue for the year was $4.2 billion
- 23.8% higher than fiscal year 2006.

    AECOM's gross revenue includes a significant amount of pass-through costs
and, therefore, the company believes that revenue, net of other direct costs,
which is a non-GAAP measure, also provides a valuable perspective on its
business results. AECOM's revenue, net of other direct costs for the three
months ended Sept. 30, 2007, increased 32.2% to $669.0 million. For the full
fiscal year 2007, the company's revenue, net of other direct costs increased
26.6% to $2,405.3 million.

    "Our results were marked by solid, sustained growth across our practice
areas and throughout our global operations," said John M. Dionisio, AECOM
president and chief executive officer. "The growing global infrastructure
market is fueling our strong end markets, particularly outside of the U.S. We
continue to leverage AECOM's market and geographic diversification to drive
organic growth as well as the acquisitive growth that is a hallmark of our
business model."

    Business Segments

    In addition to providing consolidated financial results, AECOM reports
separate financial information for its two segments: Professional Technical
Services (PTS) and Management Support Services (MSS).

    Professional Technical Services

    The PTS segment delivers planning, consulting, architecture and
engineering design, and program and construction management services to
institutional, commercial and government clients worldwide.

    For the fourth quarter of fiscal 2007, the PTS segment reported revenue
of $917.2 million and operating income of $52.0 million, compared to revenue
of $733.4 million and operating income of $37.9 million for the same period
during fiscal year 2006. For the full year, the PTS segment reported revenue
of $3.4 billion and operating income of $176.1 million, compared to revenue of
$2.8 billion and operating income of $123.3 million during fiscal year 2006.

    PTS revenue, net of other direct costs increased 32.6% for the three
months ended Sept. 30, 2007, to $639.3 million. For the full fiscal year 2007,
PTS revenue, net of other direct costs increased 27.3% to $2,295.7 million.

    Management Support Services

    The MSS segment provides facilities management and maintenance, training,
logistics, consulting, technical assistance and systems integration services,
primarily for agencies of the U.S. government.

    For the fourth quarter of fiscal year 2007, the MSS segment reported
revenue of $197.1 million and operating income of $6.5 million, compared to
revenue of $170.8 million and operating income of $6.3 million for the same
period during fiscal year 2006. For the full year, the MSS segment reported
revenue of $818.6 million and operating income of $28.6 million, compared to
revenue of $647.2 million and operating income of $22.9 million during fiscal
year 2006.

    MSS revenue, net of other direct costs increased 23.6% for the three
months ended Sept. 30, 2007, to $29.7 million. For the full fiscal year 2007,
MSS revenue, net of other direct costs increased 13.3% to $109.6 million.

    Outlook

    AECOM announced backlog and selected-not-booked results totaling $6.0
billion at September 30, 2007, a 25.6% increase year over year.

    "Our robust market activity continues to grow globally, as we win
projects at a strong pace," said Michael S. Burke, AECOM executive vice
president, chief corporate officer and chief financial officer. "Our non-U.S.
revenue growth rate continues to thrive at 38% - far outpacing our
already-strong 19% growth rate within the U.S. Based on these results, we
expect our fully diluted earnings per share results for fiscal year 2008 to be
in the range of $1.19 to $1.26."

    AECOM is hosting a conference call today at 11 a.m. EST, during which
management will make a brief presentation focusing on the company's results,
strategies and operating trends. Interested parties can listen to the
conference call and view accompanying slides via webcast on the Internet at
www.aecom.com. The webcast will be available for replay following the call.

    About AECOM

    AECOM (NYSE:   ACM) is a global provider of professional technical and
management support services to a broad range of markets, including
transportation, facilities, environmental and energy. With more than 32,000
employees around the world, AECOM is a leader in all of the key markets that
it serves. AECOM provides a blend of global reach, local knowledge, innovation
and technical excellence in delivering solutions that enhance and sustain the
world's built, natural and social environments. AECOM serves clients in more
than 60 countries and had revenue of $4.2 billion during fiscal year 2007.
More information on AECOM and its services can be found at www.aecom.com.

    Forward-Looking Statements: All statements in this press release other
than statements of historical fact are "forward-looking statements" for
purposes of federal and state securities laws, including any projections of
earnings or other financial items; any statements of the plans, strategies and
objectives for future operations; and any statements regarding future economic
conditions or performance. Although we believe that the expectations reflected
in our forward-looking statements are reasonable, actual results could differ
materially from those projected or assumed in any of our forward-looking
statements. Important factors that could cause our actual results, performance
and achievements, or industry results to differ materially from estimates or
projections contained in forward-looking statements include: uncertainties
related to funding, audits, modifications and termination of long-term
government contracts; losses under fixed-price contracts; limited control over
operations run through our joint venture entities; misconduct by our employees
or consultants or our failure to comply with laws or regulations; failure to
successfully execute our merger and acquisition strategy; the need to retain
and recruit key technical and management personnel; and unexpected adjustments
and cancellations related to our backlog. Additional factors that could cause
actual results to differ materially from our forward-looking statements are
set forth in our reports filed with the Securities and Exchange Commission. We
do not intend, and undertake no obligation, to update any forward-looking
statement.

    
                         AECOM Technology Corporation
                  Condensed Consolidated Statement of Income
                    (in thousands, except per share data)

                                Three Months Ended    Twelve Months Ended
                               --------------------- ---------------------
                                September  September September  September
                                30, 2007   30, 2006   30, 2007   30, 2006
                               ----------- --------- ---------- ----------

    Revenue                    $1,114,356   $904,279 $4,237,270 $3,421,492
      Other direct costs          445,394    398,305  1,832,001  1,521,775
                               ----------- --------- ---------- ----------
      Revenue, net of other
       direct costs               668,962    505,974  2,405,269  1,899,717
      Cost of revenue, net of
       other direct costs         352,165    262,133  1,244,091    993,909
                               ----------- --------- ---------- ----------
    Gross profit                  316,797    243,841  1,161,178    905,808

    Equity in earnings of
     joint ventures                 4,200      2,437     11,828      6,554
    General and administrative
     expenses                     278,692    217,792  1,017,067    808,953
                               ----------- --------- ---------- ----------
        Income from operations     42,305     28,486    155,939    103,409

    Minority interest in share
     of earnings                    7,346      5,421     16,404     13,924
    Gain on sale of equity
     investment                         -          -     11,286          -
    Interest expense - net         (6,294)       258      3,321     10,576
                               ----------- --------- ---------- ----------
        Income before income
         tax expense               41,253     22,807    147,500     78,909

    Income tax expense             11,860      7,270     47,203     25,223
                               ----------- --------- ---------- ----------
    Net income                 $   29,393   $ 15,537 $  100,297 $   53,686
                               ----------- --------- ---------- ----------

    Net income allocation:
        Preferred stock
         dividend              $       65   $     80 $      249 $    2,205
        Net income available
         for common
         stockholders              29,328     15,457    100,048     51,481
                               ----------- --------- ---------- ----------
        Net income             $   29,393   $ 15,537 $  100,297 $   53,686
                               ----------- --------- ---------- ----------

    Net income per share:
        Basic                  $     0.30   $   0.27 $     1.37 $     0.94
                               ----------- --------- ---------- ----------
        Diluted                $     0.29   $   0.20 $     1.15 $     0.74
                               ----------- --------- ---------- ----------

    Weighted average shares
     outstanding:
        Basic                      98,362     56,700     73,091     54,856
        Diluted                   101,952     78,036     87,537     72,658
    

    
                         AECOM Technology Corporation
                   Balance Sheet and Cash Flow Information
                                (in thousands)

                                    September 30, 2007  September 30, 2006
                                    ------------------  ------------------

    Balance Sheet Information:
       Cash and cash equivalents    $          414,515  $         127,870
       Working capital                         597,655            201,323
       Working capital, net of cash
        and cash equivalents                   183,140             73,453
       Total debt                               47,950            137,455
       Total stockholders'
        (deficit) / equity                   1,278,485           (290,894)

    Cash Flow Information:
       Net cash provided by
        operating activities        $          137,463  $         121,266
    

    
                         AECOM Technology Corporation
                             Reportable Segments
                    (in thousands, except per share data)

                             Professional Management
                              Technical    Support
                               Services    Services  Corporate    Total
                             ------------ ---------- --------- -----------
    Three Months Ended
     September 30, 2007
    Revenue                   $  917,247   $197,109  $      -  $1,114,356
    Other direct costs           277,987    167,407         -     445,394
    Revenue, net of other
     direct costs                639,260     29,702         -     668,962
    Gross Profit                 304,583     12,214         -     316,797
    Gross profit as a % of
     revenue                        33.2%       6.2%        -        28.4%
    Gross profit as a % of
     revenue, net of other
     direct costs                    7.6%      41.1%        -        47.4%
    Equity in Earnings of
     joint ventures                1,750      2,450         -       4,200
    General and
     administrative
     expenses                    254,380      8,202    16,110     278,692
    Segment income from
     operations                   51,953      6,462   (16,110)     42,305

    Three Months Ended
     September 30, 2006
    Revenue                   $  733,433   $170,846  $      -  $  904,279
    Other direct costs           251,497    146,808         -     398,305
    Revenue, net of other
     direct costs                481,936     24,038         -     505,974
    Gross profit                 232,652     11,189         -     243,841
    Gross profit as a % of
     revenue                        31.7%       6.5%        -        27.0%
    Gross profit as a % of
     revenue, net of other
     direct costs                   48.3%      46.5%        -        48.2%
    Equity in Earnings of
     joint ventures                 (354)     2,791         -       2,437
    General and
     administrative
     expenses                    194,441      7,711    15,640     217,792
    Segment income from
     operations                   37,857      6,269   (15,640)     28,486

    Twelve Months Ended
     September 30, 2007
    Revenue                   $3,418,683   $818,587  $      -  $4,237,270
    Other direct costs         1,122,967    709,034         -   1,832,001
    Revenue, net of other
     direct costs              2,295,716    109,553         -   2,405,269
    Gross profit               1,116,268     44,910         -   1,161,178
    Gross profit as a % of
     revenue                        32.7%       5.5%        -        27.4%
    Gross profit as a % of
     revenue, net of other
     direct costs                   48.6%      41.0%        -        48.3%
    Equity in Earnings of
     joint ventures                2,710      9,118         -      11,828
    General and
     administrative
     expenses                    942,921     25,402    48,744   1,017,067
    Segment income from
     operations                  176,057     28,626   (48,744)    155,939

    Twelve Months Ended
     September 30, 2006
    Revenue                   $2,774,304   $647,188  $      -  $3,421,492
    Other direct costs           971,299    550,476         -   1,521,775
    Revenue, net of other
     direct costs              1,803,005     96,712         -   1,899,717
    Gross profit                 866,935     38,873         -     905,808
    Gross profit as a % of
     revenue                        31.2%       6.0%        -        26.5%
    Gross profit as a % of
     revenue, net of other
     direct costs                   48.1%      40.2%        -        47.7%
    Equity in Earnings of
     joint ventures                1,612      4,942         -       6,554
    General and
     administrative
     expenses                    745,237     20,886    42,830     808,953
    Segment income from
     operations                  123,310     22,929   (42,830)    103,409
    

    NR 07-1105




For further information:

For further information: AECOM Technology Corporation SVP & Chief
Communications Officer Paul Gennaro, 212-973-3167 paul.gennaro@aecom.com

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