Jacobs Engineering rocks

There's nothing like a positive earnings report to get Wall Street excited. Such was the case today with the Pasadena-based engineering and design company, which saw its stock shoot up more than 9 percent because first quarter profits were 11 cents a share higher than what analysts had been expecting ($1.01 compared with 90 cents). Net income for the period jumped 42.4 percent from a year ago, to $61.3 million. Not only that, Jacobs raised its per-share earnings outlook for 2007, to $4-$4.30. Analysts had been expecting $3.98. Jacobs is highly diversified and most of its business comes from repeat customers (that's a good thing). The stock closed today at $87.85, which is still aways from its 52-week high of $93.27 last April.

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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