WASHINGTON (dpa-AFX) - The Shaw Group Inc. (SHAW) posted first-quarter consolidated net income attributable to the company of $49.24 million or $0.68 per share versus a loss of $16.0 million or $0.19 per share in the previous year.
Excluding Westinghouse, quarterly net income attributable to Shaw amounted to $35.0 million or $0.48 per share, as against a loss of $4.5 million or $0.05 per share a year ago.
On average, 14 analysts polled by Thomson Reuters expected earnings per share of $0.44 for the quarter. Analysts' estimates typically exclude one-time items.
Revenues totaled $1.52 billion compared with $1.54 billion in the earlier year period. Analysts estimated revenues of $1.51 billion for the quarter.
For fiscal 2012, the company now expects earnings per share, excluding Westinghouse, in the range of $2.05 - $2.15 per share versus its earlier view of $2.00 - $2.10. Fourteen analysts project earnings per share of $2.02 for the full year. Revenue outlook for fiscal year 2012 remains unchanged at $5.5 billion - $6.0 billion, while 15 analysts estimate revenues of $5.93 billion for the same year.
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