TribLIVE

| Home

 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Michael Baker profit falls, company adopts plan to cut costs by up to $20M

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

BKR $19.19 -$1.31

at close on FRIDAY

Daily Photo Galleries

Friday, Nov. 9, 2012, 10:24 a.m.
 

Michael Baker Corp.'s net income fell to $700,000 in the third quarter, and the engineering, design, planning and construction services company said it adopted a plan to improve performance.

Baker, based in Moon, said profit equaled 7 cents a share, and is down from net income of $7.1 million, or 76 cents, a year ago. Lower utilization, an unfavorable project mix and higher acquisition-related expenses reduced profit, the company said.

Revenue, however, increased by $14.1 million to a total $145.2 million, driven mainly by additional revenue from RBF Consulting, a California engineering and planning company that Baker acquired in 2011.

The company said it realigned its organization to increase work-sharing, cross-selling and utilization, and adopted a performance improvement plan to cut costs by $18 million to $20 million next year.

Kim Leonard is a staff writer for Trib Total Media. She can be reached at 412-380-5606 or kleonard@tribweb.com.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Stories

  1. Steelers’ Harrison awaits go-ahead from Tomlin before practicing
  2. Slot cornerback Boykin should give Steelers options in secondary
  3. 4 ejections, benches-clearing scrum mark Pirates’ win over Reds
  4. Zimbabwe alleges Murrysville doctor illegally killed lion
  5. Rossi: Looking at the next great Steeler
  6. Inside the Steelers: Roethlisberger strong in goal-line drills
  7. Pa. breeding ground for corruption, experts say
  8. Pirates notebook: Burnett says ‘surgery is not an option’
  9. Blairsville man killed in single-vehicle crash in Derry
  10. Coal miner Alpha Natural Resources files for bankruptcy
  11. Pittsburgh airport improvements noted as CEO tries to expand activity