Jacobs Earnings Rise 53%

Revenue beats targets.
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Jacobs Engineering

(JEC) - Get Report

said fourth quarter earnings rose 53.3% from a year ago.

The company earned $58.7 million, or 97 cents a share, in the quarter, compared with $38.3 million, or 64 cents a share, a year ago. Earnings for the quarter include a tax benefit of 5 cents a share. Analysts polled by Thomson First Call expected 85 cents a share for the quarter.

Revenue rose 30.3% to $1.98 billion. According to Thomson First Call, analysts had estimated a revenue of $1.94 billion for the third quarter.

For fiscal 2007, the company expects to earn $3.75 to $4.05 a share. Analysts polled by Thomson First Call expect EPS of $3.73.

The Pasadena, Calif.-based company's revenue from technical professional services rose 25% to $923 million, while the revenue from field services jumped 36% to $1.06 billion. Jacobs' reported order backlog totalled $9.8 billion at the end of the third quarter, compared with $8.6 billion a year ago.

"Clearly we had a strong quarter, capping a good year. Earnings, sales, and backlog are at record levels. Our customers are continuing to invest, so we expect to see growth continuing throughout FY 2007," the company said.

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