Despite a 12% dip in its fourth-quarter revenue, Pasadena-based Jacobs Engineering Group Inc. posted a 17% increase in net income for its fiscal fourth quarter.
The company earned $33.5 million, or 59 cents a share, for the quarter ended Sept. 30, up from $29 million, or 52 cents, in the same period in 2002. Revenue in the quarter was $1.1 million, down from $1.2 million.
For the full fiscal year, Jacobs’ profit rose 17% to $128 million, or $2.27 a share, compared with $110 million, or $1.98, for fiscal 2002. Sales for the year remained flat at $4.6 billion.