Jacobs Engineering Reports Mixed Quarter

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Shares of Jacobs Engineering Group Inc. fell 4.5 percent Tuesday morning after the engineering company reported that revenue was down in one of its largest segments.

The Pasadena company reported fiscal third quarter net income of $90.7 million (71 cents per share), compared with $19 million (15 cents) a year ago. The year-ago numbers reflect a large charge related to an unfavorable court judgment on a waste incineration project in France.

Revenue rose 8 percent to $2.7 billion. Technical professional services revenue rose 24 percent to $1.59 billion, but field service revenue was down 6.5 percent to $1.15 billion.

Analysts surveyed by Thomson Reuters on average expected the company to earn 70 cents per share on revenue of $2.7 billion.

The company maintained its earnings guidance for 2011. “Given our steady backlog and solid prospect list, our outlook remains positive,” Chief Executive Craig Martin said in a statement.

Shares closed down $1.77, or 4 percent, to $41.23 on the New York Stock Exchange.

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