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Jacobs posts higher Q1 earns, hikes 2008 view

Mon Jan 21, 2008 10:15pm EST

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PHILADELPHIA, Jan 21 (Reuters) - Jacobs Engineering Group Inc. (JEC.N), which provide technical, professional and construction services, on Monday posted higher first-quarter profits and raised its earnings outlook for 2008.

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Jacobs said net earnings totaled $98.4 million, or 79 cents a share, compared with $61.3 million, or 51 cents a share, a year ago. The results for the quarter ended Dec. 31, 2007 included a $5.4 million, or 4 cent per share, gain on the sale of an investment.

Revenues rose to $2.5 billion from $2.0 billion a year ago.

The company raised its earnings guidance for 2008 to a range of $2.95 to $3.25 per share, including the one-time gain recorded in the first quarter. (Reporting by Jessica Hall; Editing by Ben Tan)

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