JEC Jacobs Engineering Group Inc

PASADENA, Calif., April 25, 2011 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE: JEC) announced today its financial results for the second quarter of fiscal 2011 ended April 1, 2011.  

Second Quarter Fiscal 2011 Highlights:

• Net earnings for the quarter of $80.3 million;
• Diluted EPS for the quarter of $0.63;
• Net earnings for the six months ended April 1, 2011 of $146.1 million;
• Diluted EPS for the six months ended April 1, 2011 of $1.15; and,
• Backlog of $14.0 billion.

Jacobs reported net earnings of $80.3 million, or $0.63 per diluted share, on revenues of $2.6 billion for its second quarter of fiscal 2011 ended April 1, 2011.  This compares to net earnings of $77.5 million, or $0.62 per diluted share, on revenues of $2.6 billion for the second quarter of fiscal 2010 ended April 2, 2010.

For the six months ended April 1, 2011, Jacobs reported net earnings of $146.1 million, or $1.15 per diluted share, on revenues of $4.9 billion.  This compares to net earnings of $149.9 million, or $1.20 per diluted share, on revenues of $5.1 billion for the same period in fiscal 2010.

On February 1, 2011, the Company acquired certain operations within the process and construction business of Aker Solutions ASA.  Accordingly, the Company's consolidated results of operations for the three months ended April 1, 2011 include those of the acquired businesses since the date of acquisition.  Including the effects of acquisition related costs, the acquired operations contributed approximately $0.04 per diluted share to earnings for the second quarter of fiscal 2011.

Jacobs also announced backlog totaling $14.0 billion at April 1, 2011, including a component of technical professional services of $8.7 billion.  This compares to total backlog and technical professional services backlog of $14.7 billion and $8.3 billion, respectively, at April 2, 2010.

Commenting on the results for the second quarter, Jacobs President and CEO Craig L. Martin stated, "Performance in the second quarter improved nicely. Our earnings and backlog are both up from the first quarter, and the outlook remains positive.  Several of our markets continue to improve and our prospect list is growing."

Commenting on the Company's earnings outlook for the remainder of fiscal 2011, Jacobs Chief Financial Officer John W. Prosser, Jr. stated, "Our guidance for fiscal year 2011, which includes the net contribution of the acquired operations of Aker, is being narrowed from the previous range of $2.40 to $2.85 to a revised range of $2.40 to $2.80."

Jacobs is hosting a conference call at 11:00 a.m. Eastern time on Tuesday, April 26, 2011, which they are webcasting live on the Internet at www.jacobs.com.

Jacobs is one of the world's largest and most diverse providers of technical, professional, and construction services.

Statements made in this press release that are not based on historical fact are forward-looking statements.  Although such statements are based on management's current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain, and you should not place undue reliance on such statements.  We caution the reader that there are a variety of factors that could cause business conditions and results to differ materially from what is contained in our forward-looking statements.  For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements, please refer to our 2010 Form 10-K, and in particular the discussions contained under Item 1 – Business; Item 1A – Risk Factors; Item 3 – Legal Proceedings; and Item 7 – Management's Discussion and Analysis of Financial Condition and Results of Operations.  We also caution the readers of this release that we do not undertake to update any forward-looking statements made herein.

(Logo:  http://photos.prnewswire.com/prnh/20090109/JACOBSEGLOGO)

SOURCE Jacobs Engineering Group Inc.