Jacobs Engineering Posts Profit Increase
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Jacobs Engineering Group Inc. said its profit rose 12% in its fiscal first quarter, inching up despite a dip in revenue caused by a softer market for its field services unit.
The Pasadena company reported net income of $33.8 million, or 59 cents a share, for the quarter ended Dec. 31, up from $30.1 million, or 54 cents, in the year-ago period.
Revenue at the engineering and technical services firm fell to $1.14 billion, down nearly 7% from $1.22 billion a year ago. Before the earnings report was released, the company’s shares fell 3 cents to $45.61 on the New York Stock Exchange.
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