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

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.

 

 
 


Show commenting policy

Most-Read Stories

  1. Roundup: PUC schedules hearings for FirstEnergy rate increase; New-home sales almost flat in September; more
  2. WPIAL football playoff clinchings
  3. Serra Catholic snaps 28-game losing streak with 38-36 victory over Wilkinsburg
  4. Connellsville reaches playoff despite blowout loss
  5. Kittanning routs Ford City in rivalry’s final game
  6. Linebacker Harrison coming along slowly since return to Steelers
  7. Clairton runs past Leechburg for PIAA record
  8. Lower Burrell man charged with shoplifting
  9. Freeport man accused of having child pornography images
  10. BVA enters playoffs with 3 straight wins
  11. Charleroi can’t overcome 28-0 hole
Subscribe today! Click here for our subscription offers.