Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Will Gabrielski - Broadpoint AmTech.
Will Gabrielski - Broadpoint AmTech
First of all, relative to what you guys did in the first half of the year, but I know you guys like to be conservative, but I really do struggle to get to the midpoint of your new full year guidance based on the margins you guys have put up in the first half and where we are on backlog and bond issuance year-to-date. Can you walk through a little bit more about your comfort level or how conservative you feel like you might be being there?
Thomas Hick
Will, we’ve said it repeatedly and I’ll just repeat it one more time. I think one of the issues you’re dealing with is the first half versus the second half I would assume is that right? I want to point out and we described it fully in the first quarter Q as well as repeated it in this Q, we had a series of significant recoveries on programs that we had claims in on contract negotiations for extensions and recovery of costs that we had recorded in the past without associated profit.
That is an ongoing part of our business and that’s going to happen year-to-year. Just so happened this year it was concentrated in the first quarter. It could just as easily have been in the fourth quarter or spread evenly throughout the year. So, I think the thing that I would just reemphasize is for the full year, we’re saying that our EPS certainly at the top end will be up 12% or so and for the first half of the year; we’re already up a significant portion of that.
In fact, we’re up over 30%, first half versus first half of last year. So, I’ll feel very confident we never give you numbers we’re not confident of achieving and as Martin said, what’s really exciting is the amount of opportunities we see coming for 2010 and we’re poise to take advantage of those.
Will Gabrielski - Broadpoint AmTech
I’m just curious, this quarter I know the equity and unconsolidated affiliates line can move around a lot and MIBRAG was in there for Q1 and not in there for the entirety of Q2 but the number was actually a little bit lower than I was modeling and I’m sure you guys know that’s hard number to forecast, but can you provide some color about what’s in that number right now versus what was in there a year ago and provide some sort of color and where you think we’re trending there?
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