KBR reports 1st-qtr profit falls, but it says margins rise

April 25 Thu Apr 25, 2013 4:19pm EDT

April 25 (Reuters) - Engineering company KBR Inc reported on Thursday a small decline in quarterly earnings and improved profit margins as it worked hard turning around some of its previously discussed "problem projects."

KBR said it made a first-quarter profit of $88 million, or 59 cents per share, down from $91 million, or 61 cents per share, a year before. Revenue fell 7 percent to $1.86 billion, compared with analysts' average estimate of $1.92 billion, according to Thomson Reuters I/B/E/S.

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