Jacobs Engineering Group Inc. said cost controls enabled it to report a fiscal first quarter profit that, while lower than a year ago, was still better than Wall Street expected.

The Pasadena construction services firm late Monday reported net income of $72.4 million (58 cents per share), compared with more than $116 million (94 cents) a year earlier. Revenue fell 23 percent to $2.5 billion.

The company said that the quarter included an after-tax charge of $5.8 million (3 cents) related to the closing of its Houston office and entering a sublease for the property. As a result, its adjusted net income rose to 61 cents per share.

Analyst surveyed by Thomson Reuters on average expected the company to report adjusted per-share net income of 58 cents on revenue of $2.48 billion.

“Our results for the quarter reflect good execution by all of our offices, as well as continued focus on controlling costs,” said Chief Executive Craig L. Martin in a press release. “Although the economic environment continues to be difficult, our relationship-based business model remains a strength.”

The company said it is maintaining its fiscal 2010 guidance of earnings per share of a range of $2.00 to $2.60. Analysts on average estimate the company to report $2.36 per share.

Jacobs shares on Tuesday closed down $1.01, or 2.5 percent, to $38.94 on the New York Stock Exchange.