Despite solid third quarter numbers and a boost in its annual guidance, shares in Jacobs Engineering Group Inc. dropped nearly 4 percent Wednesday.

Jacobs reported third quarter net income of $75 million, or 61 cents per share, a 48 percent increase from $51 million (42 cents), from the same period a year earlier.

Revenue for the Pasadena-based engineering and construction consulting firm increased 8 percent to $2.1 billion, a gain the company attributed to the success of its technical professional services unit.

The company also raised its guidance on earnings per share from $2.10 to $2.25 per share to $2.20 to $2.35 per share for the year ending Sept. 30. Analysts polled by Thomson Financial forecast profit of $2.23 per share.

Despite the strong numbers and positive outlook, shares in Jacobs dipped $2.59, or 3.9 percent, to $62.36 in afternoon trading Wednesday on the New York Stock Exchange.