Shaw Group's Earnings Down, but Project Backlog Remains Strong

SUGAR LAND--January 7, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--The Shaw Group Incorporated (NYSE:SHAW) (Baton Rouge, Louisiana) recently reported earnings for the first quarter of the company's 2010 fiscal year, which ended November 30, 2009. Revenues for the quarter were $1.86 billion, essentially unchanged from 1Q09's revenues of $1.90 billion. However, excluding the company's Westinghouse segment, which suffered from negative foreign exchange rates, net income fell 22.6% year over year, falling from $62.8 million in 1Q09 to $48.6 million in 1Q10. The decline in earnings was not entirely unexpected, coming in the wake of a strong 1Q09 and the escalation of the global economic slowdown.

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