AECOM Reports Strong Net Income, Revenue, Backlog for Third Quarter of Fiscal 2007




    AECOM reports diluted EPS of 26 cents on revenue of $1.1 billion

    --  Diluted earnings per share of $0.26, including cost for early
retirement of debt.

    --  Net income for third quarter increased 82% year over year to $24.2
million.

    --  Net income for nine months ended June 30 increased 86% year over year
to $70.9 million.

    --  Revenue for third quarter increased 21% year over year to $1.1
billion.

    --  Revenue for nine months ended June 30 increased 24% year over year to
$3.1 billion.

    --  Backlog and Selected-Not-Booked at June 30, 2007, increased 25% year
over year to $6.2 billion.

    --  Earnings-per-share-range outlook of $1.09 to $1.11 provided for full
fiscal year 2007.

    LOS ANGELES, August 8 /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 third quarter of fiscal year 2007 ended June 30,
2007.

    AECOM reported net earnings of $24.2 million for the third quarter, or
diluted earnings per share (EPS) of $0.26. This represents an increase of 82%
over net earnings of $13.3 million for the same period last year. These
results include a one-time pre-tax cost of approximately $3.2 million, or
$0.02 EPS, associated with a make-whole payment incurred upon the early
retirement payment of debt.

    Third-quarter revenue increased to $1.1 billion, 21% higher than the
third quarter of fiscal year 2006. For the first nine months of fiscal year
2007, AECOM reported revenue of $3.1 billion, which is 24% higher than the
first nine months of fiscal year 2006. Additionally, the company has reported
revenue totaling more than $4 billion for the last 12 months ended June 30,
2007.

    "Solid growth, across our practice areas and throughout our global
operations, contributed to positive results in our fiscal third quarter," said
John M. Dionisio, AECOM president and chief executive officer. "These results
reflect the success of our growth and diversification strategies, and the
strength of our end markets."

    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).

    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 third
quarter of fiscal 2007, the PTS segment reported revenue of $903.4 million and
operating income of $50.7 million, compared to revenue of $720.3 million and
operating income of $34.6 million for the same period in fiscal year 2006.

    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 third quarter of fiscal
year 2007, the MSS segment reported revenue of $196.3 million and operating
income of $9.3 million, compared to revenue of $190.7 million and operating
income of $6.5 million for the same period in fiscal year 2006.

    Outlook

    AECOM announced backlog and selected-not-booked totaling $6.2 billion at
June 30, 2007, a 25% increase year over year and a 30% increase year to date.

    "Our end market activity continues to grow, as we win projects at a
strong pace and build our global book of business," said Michael S. Burke,
AECOM executive vice president, chief corporate officer and chief financial
officer. "Based on these results, we expect our fully diluted earnings per
share results for fiscal year 2007 to be in the range of $1.09 to $1.11."

    AECOM is hosting a conference call today at 11 a.m. EDT, 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 31,000
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 has achieved annual revenue of more than $4 billion for
the past 12 months. 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 any of 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
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 Statements of Income
               (unaudited--in thousands, except per share data)

                                 Three Months Ended    Nine Months Ended
                                 ------------------- ---------------------
                                 June 30,  June 30,   June 30,   June 30,
                                   2006      2007       2006       2007
                                 -------- ---------- ---------- ----------

    Revenue                      $911,486 $1,100,656 $2,517,213 $3,122,914
    Cost of revenue               678,581    788,565  1,855,246  2,278,531
                                 -------- ---------- ---------- ----------
      Gross profit                232,905    312,091    661,967    844,383

    Equity in earnings of joint
     ventures                       1,554      3,992      4,117      7,628
    General and administrative
     expenses                     209,340    270,401    591,161    738,376
                                 -------- ---------- ---------- ----------
      Income from operations       25,119     45,682     74,923    113,635

    Minority interest in share
     of earnings                    3,022      3,824      8,503      9,058
    Gain on the sale of equity
     investment                        --         --         --     11,286
    Interest expense - net          2,528      6,312     10,318      9,615
                                 -------- ---------- ---------- ----------
      Income before income tax
       expense                     19,569     35,546     56,102    106,248

    Income tax expense              6,262     11,360     17,953     35,343
                                 -------- ---------- ---------- ----------
    Net income                   $ 13,307 $   24,186 $   38,149 $   70,905
                                 -------- ---------- ---------- ----------

    Earnings per share:
      Basic                      $   0.24 $     0.30 $     0.66 $     1.09
                                 -------- ---------- ---------- ----------
      Diluted                    $   0.18 $     0.26 $     0.55 $     0.85
                                 -------- ---------- ---------- ----------

    Weighted average common
     shares outstanding:
      Basic                        55,762     80,915     54,242     64,948
      Diluted                      73,882     92,037     69,804     83,013
    

    
                         AECOM Technology Corporation
                          Balance Sheet Information
                                (in thousands)

                                                 September 30,  June 30,
                                                     2006         2007
                                                 ------------- -----------
                                                               (Unaudited)

    Balance Sheet Information:
      Cash and cash equivalents                     $ 127,870   $  343,073
      Working capital                                 201,323      581,563
      Total debt                                      137,455       63,482
      Total stockholders' (deficit) / equity         (290,894)   1,283,905
    




For further information:

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

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AECOM Technology Corp.

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