UPDATE 1-SNC-Lavalin earnings fall, sees stronger sales

* Q1 EPS C$0.47 vs C$0.51 last year, analyst est C$0.55

* Revenue falls to C$1.4 bln from C$1.6 bln

* Sees second half revenue above same period in 2009

* Shares down 2 pct in Toronto

OTTAWA, May 6 (BestGrowthStock) – SNC-Lavalin Group Inc (SNC.TO: ),
Canada’s biggest engineering company, reported a 7 percent drop
in first-quarter profit (Read more your timing to make a profit.) on Thursday, reflecting broad declines
in its operations, but said revenue in the second half of 2010
will exceed sales in the same period of 2009.

SNC said profit fell to C$71.9 million ($69 million), or
47 Canadian cents a share in the three months to the end of
March. That compared with a profit of C$77.5 million, or 51
Canadian cents a share, in the same period last year.

Revenue decreased 12.5 percent to C$1.4 billion.

Analysts had expected, on average, earnings of 55 Canadian
cents a share on revenue of C$1.64 billion according to Thomson
Reuters I/B/E/S.

The Montreal-based company said it closed the quarter with
a backlog of C$11.4 billion worth of work on hand, up from C$9
billion at the same time last year. It reaffirmed that it
expects net income at year-end to match or exceed 2009 profit.

Shares of SNC-Lavalin fell 2 percent, or C$1.02, to C$48.78
on the Toronto Stock Exchange on Thursday.

The company has recently won two large public-private
partnership contracts in Canada: a C$770 million extension to
the Calgary ring road and a C$1.3 billion expansion of a health
center at McGill University in Montreal.

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($1=$1.04 Canadian)
(Reporting by Susan Taylor; editing by Rob Wilson)

UPDATE 1-SNC-Lavalin earnings fall, sees stronger sales