Jacobs Caps Off Strong Year

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Jacobs Engineering Group Inc. announced fourth quarter net income of $58.7 million (97 cents per share), up 35 percent from $38.3 million (64 cents) for the same period a year earlier, beating analysts’ projections.


Revenue for the Pasadena-based engineering firm was up 30 percent to $1.98 billion, topping analysts’ estimates of $1.94. Analysts polled by Thomson Financial expected earnings around 85 cents per share.


The company attributed the strong quarter to a healthy backlog of orders, which grew 14 percent to $9.8 billion. Revenues from technical professional services and field services rose 25 percent and 36 percent, respectively. The company also said it recorded a tax benefit of $3.1 million, or 5 cents per share.


“Clearly we had a strong quarter. Earnings, sales, and backlog are at record levels,” the company said in a statement. “Our customers are continuing to invest, so we expect to see growth continuing throughout FY 2007.”


Shares in Jacobs were up $1.19 to $76.19 in early trading Thursday.

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