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Monday, February 28, 2011

URS Q4 short of estimates; expands share buybacks, (NYSE: URS)

Engineering company URS Corp (URS.N) reported a quarterly profit that fell short of expectations, but it more than doubled its plans for share buybacks and forecast revenue growth across its business lines this year. URS's 2011 buyback program will grow to 8 million shares from 3 million, but it said this did not preclude acquisitions to add capability in North American oil and gas and federal services, and to grow in continental Europe and Australia. "We probably have the room to do both," Chief Executive Martin Koffel told analysts on a conference call on Monday.