Jacobs Earnings Fall

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Jacobs Engineering Group Inc. reported lower-than-expected fiscal fourth quarter profit. Also, the company’s backlog of new orders was down 13 percent.

The Pasadena provider of construction and maintenance services late Monday reported net income of $77 million (61 cents per share) for the quarter ended Oct. 1, compared with $79.3 million (63 cents) a year earlier. Revenue fell 8 percent to $2.3 billion.

Analysts surveyed by Thomson Reuters on average expected the company to report per-share profit of 62 cents on revenue of $2.53 billion.

“This quarter was a decent finish to a difficult year,” Chief Executive Craig L. Martin said in a statement. “Our team did a good job of controlling costs and executing projects well.”

For the full year, Jacobs reported profit fell 39 percent to $246 million ($1.96), on 14 percent lower revenue of $9.9 billion. The company said its backlog at the end of the year was $13.2 billion, compared with $15.2 billion at the same time a year earlier.

Shares closed down $2.14, or 5 percent to $39.95 on the New York Stock Exchange.

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