KBR profit up on tax benefits, gas projects and work in Iraq

[douglas9]

Source: AP Business

HOUSTON (AP) -- Former Halliburton subsidiary KBR Inc. said Tuesday fourth-quarter profit rose 65 percent, lifted by contributions from natural-gas projects, work in Iraq and a tax benefit related to a 2006 asset sale.

The Houston-based military contractor and engineering and construction firm said profit for the October-December period was $71 million, or 42 cents a share, up from $43 million, or 28 cents a share, in the prior-year period.

The most-recent quarter included income from discontinued operations of $23 million, or 14 cents a share, due to tax benefits from the 2006 sale of its production services group.

The prior-year period included a loss from discontinued operations of $2 million, or 1 cent a share.

Read more: http://hosted.ap.org/dynamic/stories/E/EARNS_KBR_TXOL-?SITE=ILROR&SECTION=HOME&TEMPLATE=DEFAULT

[Robbien]

1. Twenty three million of tax payer dollars going into the pocket of KBR

after KBR couldn't make a go of a multi-billion dollar taxpayer funded operation.

The irony is off the charts.

[tabasco]

2. Mission accomplished!

This is what the Iraq war was all about from the get go.

Profiteering.

[aquart]

3. I want them prosecuted for every scam they pulled.

I want them gutted.