Shaw Group fiscal 3Q earnings jump

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Posted: Jul 12, 2010 11:24 AM by John Pastorek
Updated: Jul 12, 2010 11:40 AM
Source: Associated Press

  Rating: 5.0 (1 vote)

Topics: Shaw Group, earnings, investments, Westinghouse Group, currency

The Shaw Group Inc. said its fiscal third-quarter earnings skyrocketed because of gains in foreign currency conversions tied to its investment in the Westinghouse Group.

For the three months ending May 31, Shaw earned $68.4 million, or 79 cents per share, compared with year-ago earnings of $7.9 million, or 9 cents per share.

Revenue for the latest quarter totaled $1.79 billion, down from $1.85 billion a year ago.

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