Jacobs’ Quarter Exceeds Expectations

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Shares of Jacobs Engineering Group Inc. jumped nearly 13 percent Tuesday, a day after the construction services provider raised its full-year guidance and said its fiscal fourth-quarter profit rose 36 percent on stronger demand for its services.

The Pasadena company reported net income of $114 million, (92 cents per share), compared with $83.9 million (68 cents) a year ago. This year’s quarter included a one-time, after-tax gain of $5.4 million (4 cents). Revenue jumped 41 percent to $3.2 billion

The company reported its earnings after market close on Monday.

Analysts surveyed by Thomson Reuters on average expected a profit of 92 cents per share on revenue of $3.1 billion. The company had more shares outstanding than a year ago.

For the full year, net income rose $421 million ($3.38), up from $287 million, or ($2.35) the year before, as revenue rose 33 percent to $11.3 billion. Analysts expected annual net income of $3.36 per share on revenue of $14 billion.

Jacobs Engineering said it had an order backlog at the end of the quarter of $16.7 billion, compared with $13.6 billion at the same point a year ago. The company said it now expects to earn between $3.55 and $4.05 a share in fiscal 2009.

Jacobs shares were up $4.53 to $40.44 in midday trading on the New York Stock Exchange.

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