Gross profits for the Shaw Power Groupâ¿¿s fiscal third quarter increased more than 38 percent from a year ago to $55.4 million, even though the divisionâ¿¿s revenue dropped 5.7 percent. The group is based in Charlotte. It is a subsidiary of The Shaw Group Inc. (NYSE:SHAW) of Baton Rouge, La., which reported its quarterly earnings Monday morning. The parent companyâ¿¿s net income for the quarter ending May 31 totaled $68.4 million, or 79 cents per diluted share, on revenue totaling $1.79 billion. That was up from net income of $7.9 million, or 9 cents per diluted share, on $1.85 billion in revenue in the third quarter of fiscal 2009. The companyâ¿¿s year-ago income was adversely affected by a large accounting loss based on foreign exchange rates related to its investment in the Westinghouse Group. Shaw Chief Executive Jim Bernhard Jr. says his company is beginning to get a lift from construction of nuclear plants. â¿¿We continue to make progress on our nuclear projects, with four units simultaneously under construction in China and additional AP1000 units planned for the future,â¿ he says in a prepared statement. â¿¿Our quarterly earnings also have begun to show an impact from the four nuclear units we currently are building in the United States.â¿ Those include two nuclear reactors under construction in South Carolina. Charlotte-based Duke Energy Corp. (NYSE:DUK) intends to use the AP1000 for its proposed Lee Nuclear Station near Gaffney, S.C. Nuclear construction comes under Shaw Power Group, which comprises the corporationâ¿¿s Fossil Renewables & Nuclear Division and its maintenance operations. The group earned its $55.4 million in gross profit in the latest quarter on $827 million in revenue. A year ago, it reported gross profit of $40 million on $877 million in revenue.