Tutor Perini Beats Estimates

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.