AP NEWS

Parsons: 4Q Earnings Snapshot

March 10, 2020 GMT

CENTREVILLE, Va. (AP) _ Parsons Corp. (PSN) on Tuesday reported fourth-quarter net income of $13.7 million.

On a per-share basis, the Centreville, Virginia-based company said it had net income of 14 cents. Earnings, adjusted for one-time gains and costs, came to 48 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The software and infrastructure services provider posted revenue of $1.04 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $1.02 billion.

For the year, the company reported profit of $120.5 million, or $1.30 per share. Revenue was reported as $3.95 billion.

Parsons expects full-year revenue in the range of $3.95 billion to $4.05 billion.

Parsons shares have fallen 19% since the beginning of the year.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PSN at https://www.zacks.com/ap/PSN