Jacobs Engineering Posts 38% Jump in Profit

From the Associated Press

Jacobs Engineering Group Inc., a provider of engineering services to various industries, said fiscal third-quarter earnings rose 38% as sales surged.

Net income was $50.6 million, or 84 cents a share, up from $36.6 million, or 62 cents, a year earlier. Analysts polled by Thomson Financial had expected earnings of 76 cents a share.

Revenue rose 33% to $1.93 billion.

For the year, the Pasadena company expects per-share earnings to increase 27% to 30%, excluding expenses recorded to account for stock options issued to employees.

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