KBR Q4 revenue falls 11 pct, profit down by two-thirds

Wed Feb 20, 2013 4:35pm EST

Feb 20 (Reuters) - KBR Inc reported on Wednesday a sharp decline in quarterly earnings, after expectations had been lowered by its profit warning last month, and the engineering company posted revenue that was below analysts' estimates.

KBR said it made a fourth-quarter profit of $30 million, or 20 cents per share, which was a third of the level a year before. Revenue fell 11 percent to $1.87 billion, compared with analysts' average estimate of $2.09 billion, according to Thomson Reuters I/B/E/S.

On Jan. 10, KBR had said its 2012 earnings would be lower than expected because of higher-than-anticipated project charges in its minerals and U.S. construction units.

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A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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