Tutor Perini Corp. reported net income that beat Wall Street expectations Monday, but the company fell short on revenue.
The Sylmar construction company reported net income of $8.7 million (18 cents a share) for the quarter ended Dec. 31, compared to $27 million (56 cents) for the same quarter last year. Revenue fell a fraction of a percent to $1.2 billion.
Analysts on average expected net income of 8 cents a share on revenue of $1.3 billion, according to Thomson Financial Network.
For the full year, Tutor Perini reported net income of $45 million (91 cents a share) on revenue of $4.9 billion.
The company said it was impacted by a nearly $46 million charge for Five Star Electric, which it acquired in July.
Shares closed down 9 cents or less than 1 percent to $13.36 on the New York Stock Exchange.