KBR Announces 2009 Earnings Guidance andShare Repurchase Program
January 06 2009 - 6:07PM
Business Wire
KBR (NYSE:KBR) announced today that the Company�s current estimates
for its fiscal year 2009 earnings per diluted share are in-line
with the current range reflected among analyst estimates.
Additionally, the Company�s Board of Directors authorized a share
repurchase program pursuant to which KBR will repurchase shares in
the open market to reduce and maintain, over time, KBR�s
outstanding shares at approximately 160 million shares. KBR is a
global engineering, construction and services company supporting
the energy, petrochemicals, government services and civil
infrastructure sectors. The company offers a wide range of services
through its Downstream, Government and Infrastructure, Services,
Technology, Upstream, and Ventures business segments. For more
information, visit www.kbr.com. NOTE: The statements in this press
release that are not historical statements, including statements
regarding future financial performance (such as earnings or
earnings per diluted share), are forward-looking statements within
the meaning of the federal securities laws. These statements are
subject to numerous risks and uncertainties, many of which are
beyond the company's control, that could cause actual results to
differ materially from the results expressed or implied by the
statements. These risks and uncertainties include, but are not
limited to: the outcome of and the publicity surrounding audits and
investigations by domestic and foreign government agencies and
legislative bodies; potential adverse proceedings by such agencies
and potential adverse results and consequences from such
proceedings; the enforceability of the company�s indemnities from
Halliburton Company; changes in capital spending by the company�s
customers; the company�s ability to obtain contracts from existing
and new customers and perform under those contracts; structural
changes in the industries in which the company operates, escalating
costs associated with and the performance of fixed-fee projects and
the company�s ability to control its cost under its contracts;
claims negotiations and contract disputes with the company�s
customers; changes in the demand for or price of oil and/or natural
gas; protection of intellectual property rights; compliance with
environmental laws; changes in government regulations and
regulatory requirements; compliance with laws related to income
taxes; unsettled political conditions, war and the effects of
terrorism; foreign operations and foreign exchange rates and
controls; the development and installation of financial systems;
increased competition for employees; and operations of joint
ventures, including joint ventures that are not controlled by the
company. KBR's Annual Report on Form 10-K dated February 28, 2007,
subsequent Forms 10-Q, recent Current Reports on Forms 8-K, and
other Securities and Exchange Commission filings discuss some of
the important risk factors that KBR has identified that may affect
the business, results of operations and financial condition. KBR
undertakes no obligation to revise or update publicly any
forward-looking statements for any reason.
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