Shareholder Update May 2013 Exhibit 99.2 Creating Value … … Delivering Solutions |
2013 Q1 Financial Summary 2 Q1 Actual Q1 Budget Analyst Consensus Revenues $144.0 $144.0 $138.0 SG&A 19.1 19.1 -- Operating Income 7.7 3.0 -- EBITDA 11.2 5.9 6.3 EPS $0.57 $0.18 $0.17 In Millions Except EPS |
Q1 2013 Commentary Revenues Transportation Exceeded Expectations Federal Off Plan Slightly Due Mainly to Sequestration Unclaimed Revenue Down Approximately $2.7M from Q4 2012 SG&A On Plan, Despite $1.6M of Costs, Including: CEO Search Related Fees Strategic Review Expenses Severance Costs Other Unbudgeted Costs Amortization Expense Down $1.3M from Q1 2012 Utilization Improved to 63% Strong Balance Sheet -- $79M in Cash and Investments and No Debt 3 |
Executive Changes CEO Stepped Down in December 2012; Chairman Retired in January 2013 Office of Chief Executive/Operations Committee Established COO Stepped Down March 4 CEO Search Ongoing; Korn/Ferry Assisting 4 |
Shareholder Value 2012 Policies to Deliver Value to Shareholders Quarterly Dividend – Increased to $0.18/share Buyback Authorization Strategic Alternatives Review Ongoing Strategic Review of All Operations Ongoing 5 |
Moving Forward Business/Project Funding Challenges Remain; Revenue Decline Will Continue Excellent Execution With Right-Sized Organization is Critical External Issues Creating Some Uncertainty Priority One – Meet 2013 Budget Budget Includes Performance Improvement Plan Objectives Focused on Organic Growth Strategies 6 |
Alternative Delivery Construction Management Oil & Gas Land Development Organic Growth Strategy 7 |
2013 Outlook Core Businesses – Transportation & Federal Civilian are Stable Defense Business Well Positioned once a U.S. Federal Budget is Finalized Positioned to Grow in Design-Build, Land Development, Oil & Gas and Healthcare Business Right-Sized/PIP Goals Achieved Strong Cash Flow Expected to Continue Transportation Ranking Puts us in Position to Capitalize on Market Turnaround 5 Largest Bridge Designer 16 Largest Highway Designer 8 th th |
2013 Outlook, cont. Maintaining Market Share with Key Transportation Clients (PA, NJ, SC) Growing Market Share in Several States (WI, VA, KY) Capitalize on Position As a Key Player in: Design-Build Market Floodplain Mapping (FEMA) Awarded EPA Contract for First Time RBF Fully Integrated; Cross-Selling has Begun 9 |
Summary Actions Taken to Benefit Shareholders Dividend Buyback Authorization Redeemed Shareholder Rights Plan Chairman Retired/Senior Management Realigned Stock Ownership Guidelines Performance Improvement Plan We Appreciate Your Support 10 |
Shareholder Update May 2013 Creating Value … … Delivering Solutions |