Shaw Group said early today that its second-quarter net loss came in at $62.6 million, or 78 cents per share, falling well short of a year-ago net profit of $21.8 million (27 cents per share). The Louisiana-based engineering and construction firm said revenue reached $1.21 billion, down fractionally from $1.24 billion in the same period in 2006.
The numbers from this period, which wrapped up on February 28 of this year, had been delayed to do restatements required for earlier reports, including the 2006 and first-quarter results. The company filed its amended full-year 2006 and first-quarter 2007 numbers on Friday as well.
Ahead of the opening bell, SGR shares have inched fractionally upward. The stock has been moving higher of late and is well on its way to challenging its all-time high of 63.48, reached in May 2001. Since early April, the stock has nearly doubled in value. The company also earns a Zacks rating of 1.0, suggesting future earnings momentum may be positive.