Jacobs sees Q1 growth

By Sarah Ann McCay30 January 2012

US contractor Jacobs Engineering has reported net earnings of US$ 89.7 million for its fiscal first quarter up to December 30, 2011. The figure was up US$ 23.9 million, or +36%, on Q1 2011 figures, which saw net earnings hit US$ 65.8 million.

The net earnings for Q1 2012 equate to US$ 0.70 per diluted share on revenues of US$ 2.63 billion, compared to Q1 2011 figures of US$ 0.52 per diluted share on revenues of US$ 2.36 billion.

Jacobs has also announced a backlog totalling US$ 14.5 billion at December 30, 2011, including a technical professional services component of US$ 9.5 billion. This compares to total backlog and technical professional services backlog of US$ 13.0 billion and US$ 7.9 billion, respectively, at December 31, 2010.

The company is maintaining its guidance of US$ 2.80 to US$ 3.20 per share for the remainder of the fiscal year.

"The business continues to benefit from improving markets and solid sales and operations performance. Our outlook remains positive, as the number and quality of our prospects continue to grow," said Jacobs president and CEO Craig L. Martin.

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