Posted: Jul 10, 2012 10:38 AM
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.