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Acquisitions Fuel Higher Sales At Parsons In Second Quarter As Income Falls

Cal Biesecker By
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Acquisitions Fuel Higher Sales At Parsons In Second Quarter As Income Falls

Parsons [PSN], which went public in May, on Tuesday reported a drop in net income in its second quarter due to higher compensation expense, recent acquisitions, and a difficult comparison with the same quarter in 2018 when it benefited from a favorable resolution of a legal matter. Net income tumbled 73 percent to $40.3 million, 44 cents earnings per share (EPS), from $148.4 million ($1.83 EPS) a year ago. Sales increased 10 percent to $989.7 million from $900.7 million a…

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