Hello, I am new to ACM and see this as a buying opportunity. Many of the stocks in this sector (fwlt etc) are down 20% today on news that URS sees the infrastrtucture spending slowing. I believe ACM is different because of its overseas exposure. I doubt the Chinese or middle east folk will slow their buildout plans. I am buying at these levels.
Now the dickhead Cramer is piling on, says ACM is too much like URS and is not done going down. More like a weak competitor getting there ass kicked by ACM and making excuses.
From the ACM conference call:
"Some investors have expressed their concern regarding municipal funding. This applies to 13% of our revenue base. We are mindful of this issue and believe our diversification will mitigate any possible shortfall. In addition, a significant portion of the 13% is funded by municipal bonds. We have seen an increase in the amount of municipal bonds issued for infrastructure projects. On a year-over-year basis, municipal bonds issued are up 33%."
John M. Dionisio - President and Chief Executive Officer
"That's exactly right. What we're seeing in the... we scrub our performance on a regular basis and review the performance with all our key managers around the U.S. as well as the world and we're still seeing a very strong market. And we see there, based upon the needs, there is funding in place. So, that's almost... I tell you it's almost when you listen to some of the reports, both in the print and media, it's almost as if it's a self fulfilling prophecy that something bad is going to happen, but we're not seeing that right now. But again, we are not just sitting back, not taking actions. We have a strategy in place to defend ourselves against any type of shortfalls which may occur."