The March 31, 2008 backlog includes new contract awards and adjustments to contracts in process added during the first quarter of 2008 totaling $895 million which include approximately $274 million of various new work awards at Rudolph and Sletten and $590 million of additional work on our hospitality and gaming projects in Las Vegas, Maryland, and California. Our management services segment delivered another quarter of excellent performance due to our work with the US Army Corps of Engineers and the US State Department on overhead coverage systems and operating fuel and water storage infrastructure at bases and embassy compounds in Iraq. For the quarter, we generated $25 million in operating cash flows due to the substantial increase in our building segment revenues combined with favorable performance by the management services segment. Our management services segment also performed well during the quarter due to its work in Iraq on overhead coverage systems and the design and construction of water and fuel storage projects. We see a significant ramp-up in major civil work occurring on the East Coast that dovetails with the type of work Tutor-Saliba has historically done out West, meaning cut and cover subway stations in New York, large highway jobs in Virginia and Maryland, where Perini is well situated and where we can couple our expertise with theirs and I believe can add significantly to our civil backlog by the end of the year, the benefit of which will begin to come to the Company in 2009 and 2010. User may not reproduce or redistribute the material except for user’s personal or internal use and, in such case, only one copy may be printed, nor shall user use any material for commercial purposes or in any fashion that may infringe upon Thomson Financial’s or Voxant’s copyright or other proprietary rights or interests in the material; provided, however, that members of the news media may redistribute limited portions (less than 250 words) of this material without a specific license from Thomson Financial and Voxant so long as they provide conspicuous attribution to Thomson Financial and Voxant as the originators and copyright holders of such material. read more

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