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The Turner Corporation reported strong results for the first quarter of 2002. The value of new contracts secured through March 31 at $2.4 billion, signifies the highest quarterly sales figure in Turner's history. Gross sales earnings were $71.1 million, another all-time quarterly record, compared to $55.2 million for the corresponding period last year.

The value of construction completed for the quarter was $1.4 billion. Earnings from construction contracts, at $54.3 million, increased 23% over the $44 million reported for the first quarter of 2001. The company's anticipated backlog earnings as of March 31 were a record, at $192.1 million, and show an increase of 20% over the $160.4 million reported as of March 31, 2001. Construction backlog volume was $6.3 billion as of March 31, compared to $4.6 billion for the same period last year.

According to Thomas C. Leppert, chairman and chief executive officer, "It is a great accomplishment to maintain such positive momentum over the last five years. It is especially a pleasure to report very strong results this year, as we celebrate the 100th anniversary of our company's founding. At a time when the market has been flat, Turner continues to grow because of increased market penetration."

An especially active area for Turner is the healthcare market, with demand for both new construction and the updating of existing facilities. The need for replacement hospitals is growing, as merged healthcare systems move to consolidate operations on a single campus. A recent award for Turner was a new replacement hospital for Sacred Heart Medical Center in Eugene, Ore. Ongoing work includes Cleveland University Hospital Health System in Cleveland, Ohio and Lakeland Regional Health System in Niles and St. Joseph, Mich.

California continues to lead the nation in healthcare construction because of SB1953, a law that mandates that all hospitals within the state be earthquake compliant by 2008. Turner has been providing construction management services at Cedars-Sinai Medical Center in Los Angeles and at the UCLA Medical Center replacement hospitals in Los Angeles and Santa Monica, for the supervision of major capital programs resulting from this legislation. The firm was recently awarded major projects by Laguna Honda Hospital in San Francisco and Mills-Peninsula Replacement Hospital in Burlingame. State tobacco settlements continue to support the research and treatment of cancer, which includes the construction of new facilities dedicated to that mission.