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    PASADENA, Calif., July 23 /PRNewswire-FirstCall/ -- Jacobs Engineering
 Group Inc. (NYSE:   JEC) announced today its financial results for the third
 quarter of fiscal 2007 ended June 30, 2007.
     Third Quarter Fiscal 2007 Highlights:
     -- Diluted EPS for the third quarter grew to $0.61, a 45.2% increase over
        the corresponding quarter last year
     -- Diluted EPS for the nine months ended June 30, 2007 grew to $1.67, a
        45.2% increase over the corresponding period last year
     -- Net earnings for the third quarter rose to $74.8 million, a 47.6%
        increase over the corresponding quarter last year
     -- Net earnings for the nine months ended June 30, 2007 rose to
        $203.2 million, a 47.1% increase over the corresponding period last
        year
     -- Backlog increased $1.6 billion, or 17.0%, from June 30, 2006 to
        $11.0 billion
     Jacobs reported today record net earnings of $74.8 million, or $0.61
 per diluted share, on revenues of $2.1 billion for its third quarter of
 fiscal 2007 ended June 30, 2007. This compares to net earnings of $50.6
 million, or $0.42 per diluted share, on revenues of $1.9 billion for the
 same period last year.
     For the nine months ended June 30, 2007, Jacobs reported net earnings
 of $203.2 million, or $1.67 per diluted share, on revenues of $6.2 billion.
 This compares to net earnings of $138.2 million, or $1.15 per diluted
 share, on revenues of $5.4 billion for the same period in fiscal 2006.
     Jacobs also announced backlog totaling $11.0 billion at June 30, 2007,
 including a technical professional services component of $5.9 billion. This
 compares to total backlog and technical professional services backlog of
 $9.4 billion and $4.8 billion, respectively, at June 30, 2006.
     Commenting on the results for the third quarter, Jacobs President and
 CEO Craig L. Martin stated, "Our third quarter performance was very good,
 whether compared to the same period last year or on a quarter-over-quarter
 basis. Backlog is up and our new business prospects remain strong. We see
 the outlook for fiscal year 2007 and beyond as positive."
     Also commenting on the results for the third quarter and on the
 Company's earnings outlook for the remainder of fiscal 2007, Jacobs Chief
 Financial Officer John W. Prosser, Jr. stated, "As a result of our
 continued strong growth in the third quarter, we are increasing our
 earnings per share guidance for fiscal 2007 to a range of $2.20 to $2.35."
     Jacobs is hosting a conference call at 11:00 a.m. Eastern time on
 Tuesday, July 24, 2007, which they are webcasting live on the Internet at
 http://www.jacobs.com. The taped teleconference is accessible from any
 touch- tone phone and will be available 24 hours a day through July 31,
 2007. The dial-in number for the audio replay is 888.286.8010 (confirmation
 code 69812422).
     Jacobs, with over 48,000 employees and revenues exceeding $8.0 billion,
 provides technical, professional, and construction services globally.
     Statements made in this press release that are not based on historical
 fact are forward-looking statements. Although such statements are based on
 management's current estimates and expectations, and currently available
 competitive, financial, and economic data, forward-looking statements are
 inherently uncertain, and you should not place undue reliance on such
 statements. We caution the reader that there are a variety of factors that
 could cause business conditions and results to differ materially from what
 is contained in our forward-looking statements. For a description of some
 of the factors which may occur that could cause actual results to differ
 from our forward-looking statements please refer to our 2006 Form 10-K, and
 in particular the discussions contained under Item 1 - Business; Item 1A -
 Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's
 Discussion and Analysis of Financial Condition and Results of Operations.
 We also caution the readers of this release that we do not undertake to
 update any forward- looking statements made herein.
     Financial Highlights:
     Results of Operations (in thousands, except per-share data):
 
                            Three Months Ended         Nine Months Ended
                                  June 30                   June 30
                             2007         2006         2007         2006
     Revenues            $2,083,689   $1,926,071   $6,193,901   $5,441,979
     Costs and Expenses:
       Direct costs of
        contracts        (1,767,073)  (1,682,806)  (5,315,011)  (4,760,440)
       Selling, general,
        and administrative
        expenses           (200,912)    (163,694)    (566,323)    (465,115)
 
     Operating Profit       115,704       79,571      312,567      216,424
 
     Other Income (Expense):
       Interest income        4,590        3,012       14,123        8,126
       Interest expense      (2,175)      (1,951)      (5,723)      (5,338)
       Miscellaneous
        expense, net         (1,256)      (1,538)      (3,340)      (3,341)
         Total other
          expense, net        1,159         (477)       5,060         (553)
 
     Earnings Before Taxes  116,863       79,094      317,627      215,871
 
     Income Tax Expense     (42,113)     (28,462)    (114,389)     (77,714)
 
     Net Earnings           $74,750      $50,632     $203,238     $138,157
 
     Earnings Per Share
      ("EPS"):
       Basic                  $0.63        $0.43        $1.72        $1.19
       Diluted                $0.61        $0.42        $1.67        $1.15
 
     Weighted Average
      Shares Used to
      Calculate EPS:
       Basic                118,961      116,964      118,258      116,434
       Diluted              122,501      120,537      121,912      120,037
 
     EPS and weighted average shares outstanding for the three and nine months
     ended June 30, 2006 have been adjusted to reflect the 2-for-1 stock split
     on March 15, 2007.
 
 
 
     Other Operational Information (in thousands):
 
                             Three Months Ended        Nine Months Ended
                                   June 30                  June 30
                              2007        2006         2007         2006
     Revenues by Major
      Component:
       Technical
        professional
        services         $1,146,405     $871,997   $3,203,766   $2,453,384
       Field services       937,283    1,054,074    2,990,135    2,988,595
       Total             $2,083,688   $1,926,071   $6,193,901   $5,441,979
 
     Depreciation
      (pre-tax)             $13,298      $10,152      $36,637      $29,966
 
     Capital Expenditures   $13,522      $15,279      $48,066      $39,716
 
 
 
     Selected Balance Sheet and Backlog Information (in thousands):
 
 
                                                              At June 30
                                                         2007           2006
     Balance Sheet Information:
       Cash and cash equivalents                       $473,114       $339,551
       Working capital                                  919,591        735,301
       Total debt                                        65,602        108,513
       Stockholders' equity                           1,674,579      1,330,837
 
     Backlog Information:
       Technical professional services               $5,909,600     $4,820,400
       Field services                                 5,118,100      4,601,100
       Total                                        $11,027,700     $9,421,500
 
 
     (Logo:  http://www.newscom.com/cgi-bin/prnh/20051021/LAJACOBSEGLOGO)
 
     For additional information contact:
     John W. Prosser, Jr.
     Executive Vice President, Finance and Administration
     626.578.6803
 
 

SOURCE Jacobs Engineering Group Inc.