Hill International announced financial results for the fourth quarter and full year ended December 31, 2017.
Article continues below
Hill’s total revenue for the fourth quarter of 2017 was $119.0 million, a decrease of 5.0% from the fourth quarter of 2016.
The firm’s operating loss for the fourth quarter was $1.7 million, an improvement from an operating loss of $17.5 million in the prior year's fourth quarter. Our net loss from continuing operations was $6.1 million, or $0.12 per diluted share, an improvement from net loss from continuing operations of $18.5 million, or $0.36 per diluted share, during the prior year's fourth quarter.
Hill International net loss from discontinued operations was $2.2 million, or $0.04 per diluted share, an improvement from a net loss from discontinued operations of $9.4 million, or $0.18 per diluted share, during the prior year's fourth quarter.
Hill International net loss for the fourth quarter was $9.9 million, or $0.19 per diluted share, an improvement from a net loss of $27.9 million, or $0.54 per diluted share, in the fourth quarter of 2016.
One-time expenses in the fourth quarter relating to the firm’s Profit Improvement Plan and other one-time costs total $3.8 million, or $0.07 per diluted share, adversely impacted Hill's profitability during the fourth quarter of 2017.
EBITDA for the fourth quarter was a loss of $.2 million, an improvement from EBITDA loss of $15.9 million in the fourth quarter of 2016.
Full year 2017 results
Hill’s total revenue for 2017 was $483.7 million, a decrease of 6.3% from 2016.
The operating loss for 2017 was $0.6 million, an improvement from an operating loss of $13.6 million in the prior year.
The net loss from continuing operations for 2017 was $6.7 million, or $0.13 per diluted share, an improvement from a net loss from continuing operations of $22.0 million, or $0.43 per diluted share in 2016.
The net loss from discontinued operations for 2017 was $14.5 million, or $0.28 per diluted share, an improvement from a net loss from discontinued operations of $11.8 million, or $0.22 per diluted share, in the prior year.
During 2017 the company sold the Construction Claims Group resulting in a gain, net of taxes, of $48.7 million or $.93 per diluted share. The net earnings for 2017 were $27.4 million, or $0.52 per diluted share, an improvement from a net loss of $33.8 million, or $0.65 per diluted share, for 2016.
One-time expenses relating to Hill’s Profit Improvement Plan and other one-time costs total $13.5 million, or $0.26 per diluted share, adversely impacted Hill's profitability for the full year 2017.
EBITDA as defined below for 2017 was $6.0 million, an improvement from an EBITDA loss of $6.4 million in 2016.
Hill's total backlog at December 31, 2017 was $846 million, an increase from $842 million at December 31, 2016. ■