News Release

• Diluted earnings per share for the second quarter increased 31% year over year to 51 cents.
• Net income from continuing operations for second quarter increased 39% year over year to $59 million.
• Operating income for the second quarter increased 21% year over year to $83 million.
• Revenue, net of other direct costs, for the second quarter increased 9% year over year to $1.1 billion.
• Revenue for second quarter increased 7% year over year to $1.6 billion.
• Backlog at March 31, 2010, increased 7% year over year to $9.9 billion.
• Diluted earnings per share range outlook increased to $1.97 to $2.05 for full fiscal year 2010.

LOS ANGELES, May 06, 2010 (BUSINESS WIRE) --AECOM Technology Corporation (NYSE: ACM), a leading provider of professional technical and management support services for government and commercial clients around the world, announced today its financial results for the second quarter of fiscal year 2010, which ended March 31, 2010.

AECOM reported net income of $59 million for the second quarter, or diluted earnings per share (EPS) of 51 cents. These results represent an increase of 39% over net income of $42 million - and an increase of 31% over diluted EPS of 39 cents - for the same period last year. Operating income for the second quarter increased to $83 million, 21% higher than the same period last year. For the first six months of fiscal year 2010, AECOM reported net income of $104 million and operating income of $149 million, an increase of 26% and 8%, respectively, compared to the same period last year.

Second-quarter revenue increased to $1.6 billion, 7% higher than the second quarter of fiscal year 2009. AECOM's gross revenue includes a significant amount of pass-through costs and, therefore, the company believes revenue, net of other direct costs, which is a non-GAAP measure, also provides a valuable perspective on its business results.

AECOM's second-quarter revenue, net of other direct costs, increased to $1.1 billion, 9% higher than the same period last year. For the first six months of fiscal 2010, AECOM reported revenue of $3.1 billion and revenue, net of other direct costs of $2.0 billion, an increase of 4% and 8%, respectively, compared to the same period last year.

"We continued to win new work across our diversified end markets and geographies in the second quarter of fiscal year 2010," said John M. Dionisio, AECOM president and chief executive officer. "Our global transportation and U.S. federal government markets - as well as our business in global markets such as Hong Kong, China, Australia and Eastern Europe - performed particularly well. Our pipeline of new opportunities is solid and we continue to anticipate accelerated growth in the second half of the year."

Business Segments

In addition to providing consolidated financial results, AECOM reports separate financial information for its two segments: Professional Technical Services (PTS) and Management Support Services (MSS).

Professional Technical Services

The PTS segment delivers planning, consulting, architecture and engineering design, and program and construction management services to institutional, commercial and government clients worldwide.

For the second quarter of fiscal year 2010, the PTS segment reported revenue of $1.3 billion and operating income of $97 million, compared to revenue of $1.2 billion and operating income of $78 million for the same period during fiscal year 2009. This represents a 6% increase in revenue and a 25% increase in operating income year over year. PTS revenue, net of other direct costs, increased 7% year over year to $966 million.

Management Support Services

The MSS segment provides program and facilities management and maintenance, training, logistics, consulting, technical assistance and systems integration services, primarily for agencies of the U.S. government.

For the second quarter of fiscal year 2010, the MSS segment reported revenue of $284 million and operating income of $14 million, compared to revenue of $258 million and operating income of $15 million for the same period during fiscal year 2009. This represents a 10% increase in revenue and an 8% decrease in operating income year over year. MSS revenue, net of other direct costs, increased 29% year over year to $86 million.

Backlog

AECOM announced backlog totaling $9.9 billion at March 31, 2010, a 7% increase year over year.

Balance Sheet

AECOM has a strong balance sheet to fund growth. At March 31, 2010, the company had $207 million of total cash and cash equivalents, $201 million of debt and $600 million in committed bank facilities with $439 million in unused capacity.

Outlook

"Our continued strong execution in the second quarter of fiscal year 2010 resulted in a 39% year-over-year increase in net income," said Michael S. Burke, AECOM executive vice president and chief financial officer. "Based on our results through the second quarter of the fiscal year, and our outlook for accelerated growth in the second half of the year, we are raising our EPS guidance range for fiscal year 2010 to $1.97 to $2.05 - which at the midpoint of the range, represents annual growth of 18%."

AECOM is hosting a conference call on May 6, 2010, at 11 a.m. EDT, during which management will make a brief presentation on the company's results, strategies and operating trends. Interested parties can listen to the conference call and view accompanying slides via webcast at http://www.aecom.com. The webcast will be available for replay following the call. Those wishing to dial in to the call via telephone can do so at (866) 831-6224 or (617) 213-8853. The participant passcode will be 12420359.

About AECOM

AECOM (NYSE: ACM) is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental, energy, water and government. With approximately 45,000 employees around the world, AECOM is a leader in all of the key markets that it serves. AECOM provides a blend of global reach, local knowledge, innovation, and technical excellence in delivering solutions that enhance and sustain the world's built, natural, and social environments. A Fortune 500 company, AECOM serves clients in more than 100 countries and had revenue of $6.3 billion during the 12-month period ended March 31, 2010. More information on AECOM and its services can be found at http://www.aecom.com.

Forward-Looking Statements: All statements in this press release other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any projections of earnings or other financial items; any statements of the plans, strategies and objectives for future operations; and any statements regarding future economic conditions or performance. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in forward-looking statements include: uncertainties related to funding, audits, modifications and termination of long-term government contracts; losses under fixed-price contracts; limited control over operations run through our joint venture entities; misconduct by our employees or consultants or our failure to comply with laws or regulations; failure to successfully execute our acquisition strategy; the need to retain and recruit key technical and management personnel; and unexpected adjustments and cancellations related to our backlog. Additional factors that could cause actual results to differ materially from our forward-looking statements are set forth in our reports filed with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statement.

NR 10-0501

AECOM Technology Corporation
Condensed Consolidated Statement of Income
(in thousands, except per share data)
				Three Months Ended											Six Months Ended
				March 31, 2010					March 31, 2009						March 31, 2010					March 31, 2009
Revenue				$	1,601,166				$	1,498,058					$	3,081,950				$	2,950,686
Other direct costs					549,302					531,597						1,067,760					1,093,635
Revenue, net of other direct costs (non-GAAP)					1,051,864					966,461						2,014,190					1,857,051
Cost of revenue, net of other direct costs					943,969					878,528						1,823,318					1,688,511
Gross profit					107,895					87,933						190,872					168,540
Equity in earnings of joint ventures					3,451					4,904						7,829					10,640
General and administrative expenses					27,898					23,931						49,763					41,177
Income from operations					83,448					68,906						148,938					138,003
Other income (expense)					1,829					(1,418	)					3,533					(6,206	)
Interest expense, net					(2,385	)				(1,919	)					(3,360	)				(5,517	)
Income from continuing operations before income tax expense					82,892					65,569						149,111					126,280
Income tax expense					21,048					18,431						37,513					35,891
Income from continuing operations					61,844					47,138						111,598					90,389
Discontinued operations, net of tax					(190	)				1,192						(77	)				1,692
Net income					61,654					48,330						111,521					92,081
Noncontrolling interest in income of consolidated subsidiaries, net of tax					(3,165	)				(4,932	)					(7,250	)				(7,778	)
Net income attributable to AECOM				$	58,489				$	43,398					$	104,271				$	84,303
Net income allocation:
Preferred stock dividend				$	35				$	35					$	70				$	71
Net income available for common stockholders					58,454					43,363						104,201					84,232
Net income attributable to AECOM				$	58,489				$	43,398					$	104,271				$	84,303
Net income attributable to AECOM per share:
Basic
Continuing operations				$	0.51				$	0.40					$	0.92				$	0.78
Discontinued operations					-					0.01						-					0.02
				$	0.51				$	0.41					$	0.92				$	0.80
Diluted
Continuing operations				$	0.51				$	0.39					$	0.91				$	0.77
Discontinued operations					-					0.01						-					0.02
				$	0.51				$	0.40					$	0.91				$	0.79
Weighted average shares outstanding:
Basic					113,801					106,465						113,477					105,497
Diluted					115,044					108,148						114,771					107,384

AECOM Technology Corporation
Balance Sheet and Cash Flow Information
(in thousands)
				March 31, 2010					September 30, 2009
Balance Sheet Information:
Cash and cash equivalents				$	206,549				$	290,777
Working capital					786,306					657,796
Working capital, net of cash and cash equivalents					579,757					367,019
Total debt					200,723					171,209
Total assets					3,939,343					3,789,881
Total stockholders' equity					1,911,240					1,729,718
				Six Months Ended
				March 31, 2010					March 31, 2009
Cash Flow Information:
Net cash (used in) provided by operating activities				$	(86,481	)			$	14,694

AECOM TECHNOLOGY CORPORATION
Reportable Segments
(in thousands)
				Professional Technical Services					Management Support Services					Corporate					Total
Three Months Ended March 31, 2010
Revenue				$	1,316,948				$	284,218				$	-				$	1,601,166
Other direct costs					350,951					198,351					-					549,302
Revenue, net of other direct costs (non-GAAP)					965,997					85,867					-					1,051,864
Cost of revenue, net of other direct costs					870,529					73,440					-					943,969
Gross profit					95,468					12,427					-					107,895
Equity in earnings of joint ventures					2,018					1,433					-					3,451
General and administrative expenses					-					-					27,898					27,898
Income from operations				$	97,486				$	13,860				$	(27,898	)			$	83,448
Gross profit as a % of revenue					7.2	%				4.4	%				-					6.7	%
Gross profit as a % of revenue, net of other direct costs (non-GAAP)					9.9	%				14.5	%				-					10.3	%
Three Months Ended March 31, 2009
Revenue				$	1,239,655				$	258,403				$	-				$	1,498,058
Other direct costs					340,000					191,597					-					531,597
Revenue, net of other direct costs (non-GAAP)					899,655					66,806					-					966,461
Cost of revenue, net of other direct costs					825,367					53,161					-					878,528
Gross profit					74,288					13,645					-					87,933
Equity in earnings of joint ventures					3,409					1,495					-					4,904
General and administrative expenses					-					-					23,931					23,931
Income from operations				$	77,697				$	15,140				$	(23,931	)			$	68,906
Gross profit as a % of revenue					6.0	%				5.3	%				-					5.9	%
Gross profit as a % of revenue, net of other direct costs (non-GAAP)					8.3	%				20.4	%				-					9.1	%
AECOM TECHNOLOGY CORPORATION
Reportable Segments
(in thousands)
				Professional Technical Services					Management Support Services					Corporate					Total
Six Months Ended March 31, 2010
Revenue				$	2,521,387				$	560,563				$	-				$	3,081,950
Other direct costs					671,549					396,211					-					1,067,760
Revenue, net of other direct costs (non-GAAP)					1,849,838					164,352					-					2,014,190
Cost of revenue, net of other direct costs					1,682,732					140,586					-					1,823,318
Gross profit					167,106					23,766					-					190,872
Equity in earnings of joint ventures					4,290					3,539					-					7,829
General and administrative expenses					-					-					49,763					49,763
Income from operations				$	171,396				$	27,305				$	(49,763	)			$	148,938
Gross profit as a % of revenue					6.6	%				4.2	%				-					6.2	%
Gross profit as a % of revenue, net of other direct costs (non-GAAP)					9.0	%				14.5	%				-					9.5	%
Contracted backlog				$	5,053,910				$	472,093					-				$	5,526,003
Awarded backlog				$	3,387,808				$	938,247					-				$	4,326,055
Six Months Ended March 31, 2009
Revenue				$	2,469,481				$	481,205				$	-				$	2,950,686
Other direct costs					722,436					371,199					-					1,093,635
Revenue, net of other direct costs (non-GAAP)					1,747,045					110,006					-					1,857,051
Cost of revenue, net of other direct costs					1,599,430					89,081					-					1,688,511
Gross profit					147,615					20,925					-					168,540
Equity in earnings of joint ventures					6,386					4,254					-					10,640
General and administrative expenses					-					-					41,177					41,177
Income from operations				$	154,001				$	25,179				$	(41,177	)			$	138,003
Gross profit as a % of revenue					6.0	%				4.3	%				-					5.7	%
Gross profit as a % of revenue, net of other direct costs (non-GAAP)					8.4	%				19.0	%				-					9.1	%
Contracted backlog				$	4,636,573				$	550,415					-				$	5,186,988
Awarded backlog				$	3,856,568				$	177,070					-				$	4,033,638

SOURCE: AECOM Technology Corporation

AECOM Technology Corporation
Paul Gennaro, 212-973-3167
SVP & Chief Communications Officer
Paul.Gennaro@aecom.com