CB&I third-quarter profit rises, revenue doubles with Shaw deal

Tue Oct 29, 2013 4:29pm EDT

Oct 29 (Reuters) - Engineering company Chicago Bridge & Iron Co NV posted a rise in quarterly profit and a doubling of revenue thanks to an acquisition, although its backlog of projects remained flat compared with the previous quarter.

CB&I said on Tuesday third-quarter net income rose to $117.7 million, or $1.08 per share, from $80.2 million, or 82 cents a share, a year ago. Revenue was up 107 percent to just shy of $3.0 billion, boosted by its acquisition of Shaw Group this year, and its backlog stood at $24.5 billion at the end of September.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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