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Big Charge In First Quarter, But Parsons Reports Business Booming

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Big Charge In First Quarter, But Parsons Reports Business Booming
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Net earnings fell drastically for Parsons [PSN] after a big tax hit in its first quarter, but the federal contractor on Wednesday reported record revenue and healthy core operations. Parsons posted a net loss of about $107 million, or $1.01 a share, for the quarter ended March 31, down from earnings of roughly $25.5 million, or $0.23 a share, in the year-ago quarter, according to a Wednesday press release. Quarterly revenue was about $1.5 billion, up from almost $1.2 billion…

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