News Release

Reports backlog of $16.0 billion

• Revenue for the second quarter of $2.0 billion.
• Revenue, net of other direct costs, for the second quarter of $1.3 billion.
• Second-quarter diluted earnings per share of 43 cents.
• Net income attributable to AECOM for the second quarter of $49 million.
• Total backlog at March 31, 2012, of $16.0 billion.
• FY12 EPS guidance range of $2.30-$2.45.

LOS ANGELES--(BUSINESS WIRE)--May. 3, 2012-- AECOM Technology Corporation (NYSE: ACM), a leading provider of professional technical and management support services for public and private sector clients in more than 130 countries around the world, announced today its financial results for the second quarter of fiscal year 2012.

Second-quarter revenue was $2.0 billion, a 4% increase from the second quarter of fiscal year 2011. AECOM's gross revenue includes a significant amount of pass-through costs and, therefore, the company believes that revenue, net of other direct costs, which is a non-GAAP measure, also provides a valuable perspective on its business results. Second-quarter revenue, net of other direct costs, was $1.3 billion.

AECOM reported net income attributable to AECOM of $49 million and diluted earnings per share (EPS) of 43 cents for the second quarter. This represents a decrease of 15% from net income of $58 million and a decrease of 12% from diluted earnings per share of 49 cents for the same period last year. Operating income for the second quarter decreased 16% from last year to $73 million.

For the first six months of fiscal year 2012, AECOM reported net income attributable to AECOM of $97 million and diluted EPS of 85 cents, a decrease of 15% and 12%, respectively, compared to the same period last year. Operating income for the first six months of fiscal 2012 decreased 16% year over year to $150 million. For the first six months of fiscal year 2012, the company's revenue, net of other direct costs, increased 1% to $2.5 billion, while revenue was $4.0 billion - 4% higher than the same period last year.

"During the quarter, we saw strength in our Professional Technical Services segment driven by accelerated growth in key end markets and regions, including emerging and natural resources as well as Asia. This growth was enabled by investments that we have made to enhance our capabilities across AECOM," said John M. Dionisio, AECOM chairman and chief executive officer. "Unfortunately, this strength was overshadowed by challenges in our Management Support Services segment."

As a result of these factors, AECOM is adjusting its full-year EPS guidance to $2.30 to $2.45.

New Wins and Backlog

"Our new wins accelerated sequentially, topping $2.4 billion, while backlog also was up sequentially to $16 billion - a 4% increase year over year. These metrics demonstrate the underlying strength of our business as clients increasingly turn to AECOM for our integrated service platform and global expertise," added Michael S. Burke, AECOM president. "This demand, coupled with a broad-based improvement in profitability during the second half, will allow us to achieve our target of generating free cash flow roughly equal to net income this 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 public sector clients worldwide.

For the second quarter of fiscal year 2012, the PTS segment reported revenue of $1.8 billion and revenue, net of other direct costs, of $1.2 billion, compared to revenue of $1.6 billion and revenue, net of other direct costs, of $1.1 billion in the same period last year. This represents a 9% increase in revenue and a 2% increase in revenue, net of other direct costs. PTS segment operating income was $91 million compared to $92 million last year.

Management Support Services

The MSS segment provides 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 2012, the MSS segment reported revenue of $209.8 million and revenue, net of other direct costs, of $126.4 million, compared to revenue of $290.8 million, and revenue, net of other direct costs, of $148.6 million for the same period during fiscal year 2011. This represents a 28% decrease in revenue and a 15% decrease in revenue, net of other direct costs. In addition, the MSS segment reported operating income of $2 million compared to $19 million for the same period during fiscal year 2011.

Balance Sheet and Cash Flow

As of March 31, 2012, AECOM had $466 million of total cash and cash equivalents, $1.3 billion of debt and $1.05 billion in committed bank facilities with $807 million in unused capacity. Cash flow from operations totaled $11 million in the quarter.

AECOM is hosting a conference call today at 10 a.m. EDT, during which management will make a brief presentation focusing on the company's results, strategies and operating trends. Those wishing to dial in to the call via telephone can do so by dialing 1-866-831-6272 or 1-617-213-8859 and entering the passcode 45169144. Interested parties also 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.

About AECOM

AECOM 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 create, enhance and sustain the world's built, natural, and social environments. A Fortune 500 company, AECOM serves clients in more than 130 countries and had revenue of $8.2 billion during the 12 months ended March 31, 2012. 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 merger and 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.

AECOM Technology Corporation Consolidated Statement of Income (unaudited - in thousands, except per share data)
				Three Months Ended												Six Months Ended
				March 31, 2012						March 31, 2011						March 31, 2012						March 31, 2011
Revenue				$	2,010,951					$	1,936,421					$	4,040,131					$	3,872,604
Other direct costs					721,451						643,022						1,519,782						1,365,428
Revenue, net of other direct costs (non-GAAP)					1,289,500						1,293,399						2,520,349						2,507,176
Cost of revenue, net of other direct costs					1,213,383						1,193,664						2,353,886						2,302,106
Gross profit					76,117						99,735						166,463						205,070
Equity in earnings of joint ventures					16,898						11,330						25,860						19,427
General and administrative expenses					19,857						23,608						42,468						46,870
Income from operations					73,158						87,457						149,855						177,627
Other income					4,471						1,456						6,390						3,744
Interest expense, net					(11,204	)					(10,014	)					(21,818	)					(19,886	)
Income from continuing operations before     income tax expense					66,425						78,899						134,427						161,485
Income tax expense					16,769						19,239						36,347						39,742
Net income					49,656						59,660						98,080						121,743
Noncontrolling interest in income of     consolidated subsidiaries, net of tax					(662	)					(1,945	)					(1,155	)					(7,160	)
Net income attributable to AECOM				$	48,994					$	57,715					$	96,925					$	114,583
Net income allocation:
Preferred stock dividend				$	-					$	-					$	-					$	2
Net income available for common     stockholders					48,994						57,715						96,925						114,581
Net income attributable to AECOM				$	48,994					$	57,715					$	96,925					$	114,583
Net income attributable to AECOM per share:
Basic and diluted				$	0.43					$	0.49					$	0.85					$	0.97
Weighted average shares outstanding:
Basic					113,352						117,283						113,659						117,642
Diluted					114,288						118,278						114,439						118,697

AECOM Technology Corporation
Balance Sheet and Cash Flow Information
(unaudited - in thousands)
				March 31, 2012					September 30, 2011
Balance Sheet Information:
Cash and cash equivalents				$	465,662				$	456,940
Accounts receivable, net					2,554,224					2,380,181
Working capital					1,231,222					1,175,620
Working capital, net of cash and cash equivalents					765,560					718,680
Total debt					1,260,968					1,162,469
Total assets					6,013,232					5,789,328
Total AECOM stockholders' equity					2,433,830					2,339,711
				Six Months Ended
				March 31, 2012					March 31, 2011
Cash Flow Information:
Net cash provided by (used in) operating activities*				$	4,998				$	(146,035	)

* March 31, 2011, amount includes deferred compensation plan termination ($90 million) and associated excess tax benefits ($58 million).

AECOM TECHNOLOGY CORPORATION
Reportable Segments
($ in thousands)
				Professional Technical Services						Management Support Services						Corporate						Total
Three Months Ended March 31, 2012
Revenue				$	1,801,145					$	209,806					$	-					$	2,010,951
Other direct costs					638,030						83,421						-						721,451
Revenue, net of other direct costs (non-GAAP)					1,163,115						126,385						-						1,289,500
Cost of revenue, net of other direct costs					1,076,674						136,709						-						1,213,383
Gross profit					86,441						(10,324	)					-						76,117
Equity in earnings of joint ventures					4,556						12,342						-						16,898
General and administrative expenses					-						-						19,857						19,857
Income from operations				$	90,997					$	2,018					$	(19,857	)				$	73,158
Gross profit as a % of revenue					4.8	%					-4.9	%					-						3.8	%
Gross profit as a % of revenue, net of other direct costs (non-GAAP)					7.4	%					-8.2	%					-						5.9	%
Three Months Ended March 31, 2011
Revenue				$	1,645,633					$	290,788					$	-					$	1,936,421
Other direct costs					500,877						142,145						-						643,022
Revenue, net of other direct costs (non-GAAP)					1,144,756						148,643						-						1,293,399
Cost of revenue, net of other direct costs					1,056,998						136,666						-						1,193,664
Gross profit					87,758						11,977						-						99,735
Equity in earnings of joint ventures					4,019						7,311						-						11,330
General and administrative expenses					-						-						23,608						23,608
Income from operations				$	91,777					$	19,288					$	(23,608	)				$	87,457
Gross profit as a % of revenue					5.3	%					4.1	%					-						5.2	%
Gross profit as a % of revenue, net of other direct costs (non-GAAP)					7.7	%					8.1	%					-						7.7	%

AECOM TECHNOLOGY CORPORATION
Reportable Segments
($ in thousands)
				Professional Technical Services						Management Support Services						Corporate						Total
Six Months Ended March 31, 2012
Revenue				$	3,608,549					$	431,582					$	-					$	4,040,131
Other direct costs					1,344,566						175,216						-						1,519,782
Revenue, net of other direct costs (non-GAAP)					2,263,983						256,366						-						2,520,349
Cost of revenue, net of other direct costs					2,092,781						261,105						-						2,353,886
Gross profit					171,202						(4,739	)					-						166,463
Equity in earnings of joint ventures					7,048						18,812						-						25,860
General and administrative expenses					-						-						42,468						42,468
Income from operations				$	178,250					$	14,073					$	(42,468	)				$	149,855
Gross profit as a % of revenue					4.7	%					-1.1	%					-						4.1	%
Gross profit as a % of revenue, net of other direct costs (non-GAAP)					7.6	%					-1.8	%					-						6.6	%
Contracted backlog				$	7,409,504					$	962,125					$	-					$	8,371,629
Awarded backlog					6,468,962						1,201,049						-						7,670,011
Total backlog				$	13,878,466					$	2,163,174					$	-					$	16,041,640
Six Months Ended March 31, 2011
Revenue				$	3,221,404					$	651,200					$	-					$	3,872,604
Other direct costs					991,841						373,587						-						1,365,428
Revenue, net of other direct costs (non-GAAP)					2,229,563						277,613						-						2,507,176
Cost of revenue, net of other direct costs					2,052,271						249,835						-						2,302,106
Gross profit					177,292						27,778						-						205,070
Equity in earnings of joint ventures					6,129						13,298						-						19,427
General and administrative expenses					-						-						46,870						46,870
Income from operations				$	183,421					$	41,076					$	(46,870	)				$	177,627
Gross profit as a % of revenue					5.5	%					4.3	%					-						5.3	%
Gross profit as a % of revenue, net of other direct costs (non-GAAP)					8.0	%					10.0	%					-						8.2	%
Contracted backlog				$	7,770,349					$	747,190					$	-					$	8,517,539
Awarded backlog					5,189,214						1,647,800						-						6,837,014
Total backlog				$	12,959,563					$	2,394,990					$	-					$	15,354,553

AECOM Technology Corporation
Regulation G Information
($ in millions)
Reconciliation of Revenue to Revenue, Net of Other Direct Costs
				Three Months Ended										Six Months Ended
				March 31, 2012					March 31, 2011					March 31, 2012					March 31, 2011
Consolidated
Revenue				$	2,010.9				$	1,936.4				$	4,040.1				$	3,872.6
Less: Other direct costs					721.4					643.0					1,519.8					1,365.4
Revenue, net of other direct costs				$	1,289.5				$	1,293.4				$	2,520.3				$	2,507.2
PTS Segment
Revenue				$	1,801.1				$	1,645.6				$	3,608.5				$	3,221.4
Less: Other direct costs					638.0					500.8					1,344.5					991.8
Revenue, net of other direct costs				$	1,163.1				$	1,144.8				$	2,264.0				$	2,229.6
MSS Segment
Revenue				$	209.8				$	290.8				$	431.6				$	651.2
Less: Other direct costs					83.4					142.2					175.3					373.6
Revenue, net of other direct costs				$	126.4				$	148.6				$	256.3				$	277.6

Reconciliation of Amounts Provided by Acquired Companies
				Three Months Ended March 31, 2012															Six Months Ended March 31, 2012
				Total					Provided by Acquired Companies					Excluding Effect of Acquired Companies					Total					Provided by Acquired Companies					Excluding Effect of Acquired Companies
Consolidated
Revenue, net of other direct costs				$	1,289.5				$	6.4				$	1,283.1				$	2,520.3				$	18.6				$	2,501.7

Reconciliation of EBITDA to Net Income Attributable to AECOM
				Three Months Ended
				Mar 31, 2012					Dec 31, 2011					Sep 30, 2011					Jun 30, 2011					Mar 31, 2011					Dec 31, 2010					Sep 30, 2010					Jun 30, 2010
EBITDA				$	101.6				$	103.0				$	157.8				$	136.2				$	114.3				$	117.1				$	125.8				$	105.9
Less: Interest (income)/expense*					10.6					10.0					8.9					10.4					10.0					9.9					5.3					1.2
Less: Depreciation and amortization					25.3					25.5					25.1					28.0					27.4					29.8					21.2					17.2
Income from continuing operations attributable to AECOM before income taxes					65.7					67.5					123.8					97.8					76.9					77.4					99.3					87.5
Less: Income tax expense					16.7					19.6					36.4					24.0					19.2					20.5					31.5					22.7
Income from continuing operations attributable to AECOM					49.0					47.9					87.4					73.8					57.7					56.9					67.8					64.8
Discontinued operations, net of tax					-					-					-					-					-					-					-					-
Net income attributable to AECOM				$	49.0				$	47.9				$	87.4				$	73.8				$	57.7				$	56.9				$	67.8				$	64.8

				Fiscal Years Ended September 30,
				2011				2010					2009				2008
EBITDA				$ 525.4				$ 417.5					$ 358.5				$ 284.5
Less: Interest expense*				39.2				9.9					10.7				(1.3	)
Less: Depreciation and amortization				110.3				78.9					84.1				62.8
Income from continuing operations attributable to AECOM before income taxes				375.9				328.7					263.7				223.0
Less: Income tax expense				100.1				91.7					77.0				76.5
Income from continuing operations attributable to AECOM				275.8				237.0					186.7				146.5
Discontinued operations, net of tax				-				(0.1	)				3.0				0.7
Net income attributable to AECOM				$ 275.8				$ 236.9					$ 189.7				$ 147.2

* Excluding related amortization.

NR 12-0501

Source: AECOM Technology Corporation

AECOM Technology Corporation
Media:
Paul Gennaro, 212.973.3167
SVP & Chief Communications Officer
Paul.Gennaro@aecom.com
or
Investors:
Paul Cyril, 212.973.2982
SVP, Investor Relations
Paul.Cyril@aecom.com