Tutor Perini Corp. announced on Friday a subsidiary has landed three orders from the federal government worth up to $76 million.
The Sylmar construction company said its Perini Management Services unit that specializes in complex design-build projects received the orders, which will be added to its first-quarter backlog.
The largest contract, of $34.9 million, was from the National Park Service for repairs to Ellis Island in New York Harbor. The company will replace mechanical and electrical systems destroyed by Hurricane Sandy. The island was the main point of entry for immigrants from 1892 to 1954.
Perini Management also received a $13 million design-build task order from the U.S. Department of State for hardened and secured trailers at the U.S. Embassy in Beirut, Lebanon. The contract could expand by another $9 million as funds become available.
Finally, Perini Management received a $19.5 million task order from the U.S. Coast Guard for the construction of 10 duplex housing units at a Kodiak Island base in Alaska.
Shares closed down 41 cents, or 1.3 percent, to $30.19 on the New York Stock Exchange.
CU Bancorp reported first quarter earnings on Friday that outperformed analyst estimates.
The Encino owner of California United Bank reported net income of $2.7 million (24 cents a share) for the quarter ended March 31, compared with $2.2 million (20 cents) from the same period last year. Total assets increased 9 percent to $1.4 billion.
Analysts estimated net income of 22 cents, according to Thomson Financial Network.
The company said total loans rose 9.8 percent to $85 million, deposits rose 10.4 percent to $113 million and its non-performing assets declined to 0.6 percent from 1.07 percent. The company also recorded no charge offs during the quarter.
“I am pleased to report that all of our performance metrics improved in the first quarter of 2014 when compared to the same quarter of 2013,” said Chief Executive David Rainer. “We continue to establish new relationships and expand our current business.”
Shares closed down 8 cents, or a fraction of a percent, to $18.10 on the Nasdaq .