Tutor Perini Builds $39M Q2 Profit
Framingham-based construction firm Tutor Perini Corp. reported a $38.9 million profit for the second quarter, a 36 percent increase from the same period a year ago.
The company's revenue for the quarter fell from $1.39 billion in 2008 to $1.38 billion. By the end of June, Tutor Perini had a construction backlog of $5.1 billion, a decrease of $1.6 billion compared to the same time last year.
As credit markets improve, the company plans to build its backlog with "higher margin" projects.
In July, the company called off an effort to acquire another company, but said it is still focused on growing by acquisition. The company, which gained prominence in recent years as a builder of casinos, has also been concentrating lately on civil infrastructure projects and management services.
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