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Shaw Group posts 3rd-quarter loss of $16 million

3 years ago July 10, 2012 Jul 10, 2012 Tuesday, July 10 2012 Tuesday, July 10, 2012 9:38:24 AM CDT in News
Source: Associated Press

BATON ROUGE - The Shaw Group Inc. said today that losses narrowed in its fiscal third quarter, though most of that was because the company took a special impairment charge in the same period last year.

The Baton Rouge technology and engineering firm reported a net loss of $16 million, or 24 cents per share, for the three months ended May 31. That compares with a loss of $70 million, or 89 cents per share, for the same part of 2011.

Revenue increased by 5 percent in the period to $1.56 billion, from $1.49 billion last year.

Analysts, on average, had expected revenue of $1.48 billion, according to FactSet.

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