Jacobs Engineering Group Inc. (JEC) reported net earnings attributable to Jacobs for first quarter of fiscal 2010, of $72.4 million, or $0.58 per diluted share, compared to $116.4 million, or $0.94 per diluted share in the comparable period last year.
Jacobs noted that fiscal 2010 first quarter included an after-tax charge of $5.8 million, or $0.04 per diluted share, relating to ceasing of usage of one of its offices in Houston, Texas, and entering a sublease for the entire property.
On average, 21 analysts polled by Thomson Reuters expected the company to report earnings of $0.58 per share for the first quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter declined to $2.5 billion from $3.2 billion in the year-ago period. Fifteen analysts had a consensus revenue estimate of $2.48 billion for the quarter.
Looking ahead, the company said it is maintaining its guidance for fiscal 2010 of earnings per share of a range of $2.00 to $2.60, while analysts estimate the company to report $2.36 per share.
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