十大正规博彩平台公司报告第四季度和2006年全年业绩
WATSONVILLE, Calif.,
The 公司 reported net income for the quarter of
下表将GAAP净收入与非GAAP预估净收入（以千为单位）进行比较：
Three months ended Years ended
December 31, December 31,
2006 2005 2006 2005
GAAP net income $628 $35,812 $78,220 $83,150
Goodwill impairment
charge 18,011 -- 18,011 --
Tax benefit of goodwill
impairment charge (7,006) -- (7,006) --
Non-GAAP net income $11,633 $35,812 $89,225 $83,150
Non-GAAP diluted
earnings per share 0.28 0.86 2.15 2.02
“我很高兴地向大家报告，2006年是分公司又一个破纪录的一年，”总裁兼首席执行官William G. Dorey说。 “我为我们的团队今年在建筑和骨料业务方面所取得的成就感到非常自豪。 多亏了西部的温和天气，我们能够工作到这个季节的后期，并有一个强劲的年终。 更重要的是，我们正在成功地利用我们认为是历史上最好的建筑市场之一。”
“不幸的是，我们HCD的第四季度和2006年全年财务业绩远远低于我们的预期。 正如我们今天发布的运营重组公告所概述的那样，我们正在对运营结构进行关键的战略变革，这将使我们能够更有效地管理我们大型、复杂的项目。 我们致力于在这项业务的各个方面加倍努力，以便我们能够成功地抓住这项工作的利润潜力。”
He added, "As our financial results reflect, we are writing down the
经营业绩-季度和年初至今
2006年第四季度，总毛利润占总收入的比例从去年同期的15.6%下降到7.2%。
Other income for the quarter ended
Total gross profit as a percent of revenue for the year ended
分段结果
Branch Division revenue for the quarter totaled
For the year ended
HCD revenue for the quarter totaled
The two largest downward forecast adjustments affecting the fourth quarter were on the State Route 22 Design-Build project in
For the year ended
商业前景
分公司2007年的前景非常乐观。 在健康的资金水平和强劲的当地经济的推动下，这些分支机构继续经历着多年来他们所见过的最好的公共部门建筑市场之一。 由于公共和私营部门对骨料的需求依然强劲，预计2007年建筑材料的定价将保持健康。
公司目前预测HCD将在2007年实现收支平衡，随后随着现有积压的货物被处理掉，以及组织重组的好处得以实现，营业利润率将恢复到可接受的水平。
财务业绩
本公告中的财务信息反映了公司在完成年度审计后的初步结果。 Audited financial results will appear in Granite's Form 10-K, which will be filed on or before
非公认会计准则财务数据的使用
In addition, to supplement the GAAP financial information, we have provided non-GAAP net income and earnings per share information that exclude the
电话会议
Granite will conduct a conference call today at
公司描述
Granite是标准普尔400中型股指数、多米尼400社会指数和罗素2000指数的成分股公司，是美国最大的多元化重型民用承包商和建筑材料生产商之一。 十大正规博彩平台通过其遍布全国的办事处为公共和私营部门的客户提供服务。 Granite连续第四年入选《财富》100家最适合工作的公司。 For more information about the company, please visit their website at www.zkyk.net.
本新闻稿包含《1933年证券法》（经修订）第27A条和《1934年证券交易法》（经修订）第21E条所定义的前瞻性陈述，这些陈述代表了我们管理层对未来事件的信念和假设，例如与存在投标机会和公司未来业绩的经济条件有关的陈述。 此外，前瞻性陈述包括可以通过使用前瞻性术语，如“相信”、“预期”、“出现”、“可能”、“将”、“应该”、“寻找”或“预期”或其否定或类似术语，或通过战略讨论来识别的陈述。 所有此类前瞻性陈述均受风险和不确定性的影响，这些风险和不确定性可能导致运营、财务状况和其他事件的实际结果，以及这些事件发生的时间，与此类前瞻性陈述中明示或暗示的内容存在重大差异。 具体的风险因素包括但不限于适用的联邦和州立法拨款委员会组成的变化； 联邦和州对基础设施支出的拨款变化； 经济状况：经济的总体状况； 工作效率; 项目估算的准确性； 天气条件; 竞争和价格压力； 以及各州的公民投票和倡议。 您不应过分依赖这些前瞻性陈述，这些陈述仅在本新闻稿发布之日起发表。 您还应了解，除了本新闻稿中讨论、提及或纳入参考的因素外，许多重要因素可能导致我们的结果与前瞻性陈述中表达的结果存在重大差异。 鉴于这些风险和不确定性，请务必注意，本新闻稿中讨论的前瞻性事件可能不会发生。 我们没有义务公开修改或更新任何前瞻性陈述，以使其符合实际结果或公司预期的变化。
For further information regarding risks and uncertainties associated with Granite's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operation" and "Risk Factors" sections of Granite's SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting Granite's investor relations department at (831) 724-1011 or at Granite's website at /.
GRANITE CONSTRUCTION INCORPORATED
COMPARATIVE FINANCIAL SUMMARY
(Unaudited - In Thousands, Except Per Share Data)
Three Months Ended
December 31, Variance
Operations 2006 2005 Amount Percent
Revenue
建设 $608,624 $583,831 $24,793 4.2
Material sales $106,603 $95,721 $10,882 11.4
Total revenue $715,227 $679,552 $35,675 5.2
Cost of revenue
建设 $581,661 $501,690 $(79,971) (15.9)
Material sales $82,423 $71,838 $(10,585) (14.7)
Total cost of
revenue $664,084 $573,528 $(90,556) (15.8)
Gross profit $51,143 $106,024 $(54,881) (51.8)
Gross profit as a
percent of
revenue 7.2% 15.6% (8.4%) --
General and
administrative
expenses $48,530 $53,767 $5,237 9.7
G&A expenses as a
percent of
revenue 6.8% 7.9% 1.1% --
Provision for legal
judgment $(4,800) -- $4,800 --
Impairment of
goodwill $18,011 -- $(18,011) --
Gain on sales of
property and
equipment $891 $3,579 $(2,688) (75.1)
Other income (expense)
Interest income $7,380 $4,753 $2,627 55.3
Interest expense $(387) $(1,531) $1,144 74.7
Equity in income
of affiliates $636 $1,489 $(853) (57.3)
Other, net $(96) $1,806 $(1,902) ****
Total other
income $7,533 $6,517 $1,016 15.6
Income (loss) before
provision for
(benefit from)
income taxes and
minority interest $(2,174) $62,353 $(64,527) ****
Minority interest $951 $(8,447) $9,398 ****
Net income $628 $35,812 $(35,184) (98.2)
Net income per share:
Basic 0.02美元 $0.88 $(0.86) (97.7)
Diluted 0.02美元 0.86美元 $(0.84) (97.7)
Weighted average
shares of common
stock:
Basic 40,935 40,676 259 0.6
Diluted 41,581 41,417 164 0.4
Year Ended
December 31, Variance
Operations 2006 2005 Amount Percent
Revenue
建设 $2,554,745 $2,307,062 $247,683 10.7
Material sales $410,159 $334,290 $75,869 22.7
Total revenue $2,964,904 $2,641,352 $323,552 12.2
Cost of revenue
建设 $2,361,155 $2,060,680 $(300,475) (14.6)
Material sales $313,329 $261,300 $(52,029) (19.9)
Total cost of
revenue $2,674,484 $2,321,980 $(352,504) (15.2)
Gross profit $290,420 $319,372 $(28,952) (9.1)
Gross profit as
a percent of
revenue 9.8% 12.1% (2.3%) --
General and
administrative
expenses $204,281 $183,392 $(20,889) (11.4)
G&A expenses
as a percent
of revenue 6.9% 6.9% -- --
Provision for
legal judgment $(4,800) $9,300 $14,100 ****
Impairment of
goodwill $18,011 -- $(18,011) --
Gain on sales of
property and
equipment $10,408 $8,235 $2,173 26.4
Other income
(expense)
Interest income $24,112 $11,573 $12,539 ****
Interest expense $(4,492) $(6,932) $2,440 35.2
Equity in income
of affiliates $2,157 $1,497 $660 44.1
Other, net $2,604 $1,258 $1,346 ****
Total other
income $24,381 $7,396 $16,985 ****
Income (loss)
before provision
for (benefit from)
income taxes and
minority interest $107,717 $142,311 $(34,594) (24.3)
Minority interest $7,720 $(17,748) $25,468 ****
Net income $78,220 $83,150 $(4,930) (5.9)
Net income per share:
Basic $1.91 $2.05 $(0.14) (6.8)
Diluted $1.89 2.02美元 $(0.13) (6.4)
Weighted average
shares of common
stock:
Basic 40,874 40,614 260 0.6
Diluted 41,471 41,249 222 0.5
**** Represents percentages greater than 100%
GRANITE CONSTRUCTION INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited - In thousands, except share and per share data)
December 31, December 31,
2006 2005
Assets
Current assets
Cash and cash equivalents $204,893 $199,881
Short-term marketable securities 141,037 68,540
Accounts receivable, net 492,229 476,453
Costs and estimated earnings in
excess of billings 15,797 43,660
Inventories 41,529 33,161
Real estate held for sale 55,888 46,889
Deferred income taxes 38,237 22,996
Equity in construction joint
ventures 31,912 27,408
Other current assets 63,144 57,960
Total current assets 1,084,666 976,948
Property and equipment, net 429,966 397,111
Long-term marketable securities 48,948 32,960
Investment in affiliates 21,471 15,855
Other assets 50,798 49,356
Total assets $1,635,849 $1,472,230
Liabilities and Shareholders' Equity
Current liabilities
Current maturities of long-term
debt $28,660 $26,888
Accounts payable 257,612 232,807
比林斯 in excess of costs and
estimated earnings 292,543 208,883
Accrued expenses and other current
liabilities 189,928 140,569
Total current liabilities 768,743 609,147
Long-term debt 78,576 124,415
Other long-term liabilities 58,419 46,556
Deferred income taxes 22,324 37,325
Minority interest in consolidated
subsidiaries 15,532 33,227
Shareholders' equity
Preferred stock, 0.01美元 par value,
authorized
3,000,000 shares; none
outstanding -- --
Common stock, 0.01美元 par value,
authorized 150,000,000
shares in 2006 and 100,000,000
shares in 2005;
issued and outstanding
41,833,559 shares in
2006 and 41,682,010 shares in
2005 418 417
Additional paid-in capital 78,620 80,619
Retained earnings 610,586 549,101
Accumulated other comprehensive
income 2,631 1,602
Unearned compensation -- (10,179)
Total shareholders' equity 692,255 621,560
Total liabilities and
shareholders' equity $1,635,849 $1,472,230
December 31, December 31,
Financial Position 2006 2005
Working capital $315,923 $367,801
Current ratio 1.41 1.60
Debt to total capitalization 0.13 0.20
Total liabilities to equity ratio 1.36 1.37
GRANITE CONSTRUCTION INCORPORATED
REVENUE AND BACKLOG ANALYSIS
(Unaudited - Dollars In Thousands)
BY MARKET SECTOR
Revenue
Year Ended December 31, Variance
2006 2005 Amount Percent
Public Sector $2,021,301 $1,808,026 $213,275 11.8
Private Sector 533,444 499,036 34,408 6.9
总 sales 410,159 334,290 75,869 22.7
$2,964,904 $2,641,352 $323,552 12.2
Backlog
December 31, Variance
2006 2005 Amount Percent
Public Sector $2,066,950 $2,083,824 $(16,874) (0.8)
Private Sector 189,037 247,716 (58,679) (23.7)
$2,255,987 $2,331,540 $(75,553) (3.2)
BY GEOGRAPHIC AREA
Revenue
Year Ended December 31, Variance
2006 2005 Amount Percent
加州 $1,294,323 $1,028,041 $266,282 25.9
West (Excl. CA) 866,092 788,682 77,410 9.8
Midwest 58,726 92,931 (34,205) (36.8)
Northeast 281,552 324,477 (42,925) (13.2)
Southeast 244,233 176,088 68,145 38.7
South 219,978 231,133 (11,155) (4.8)
$2,964,904 $2,641,352 $323,552 12.2
Backlog
December 31, Variance
2006 2005 Amount Percent
加州 $559,169 $598,914 $(39,745) (6.6)
West (Excl. CA) 516,614 585,269 (68,655) (11.7)
Midwest 443,909 76,464 367,445 ****
Northeast 248,605 491,944 (243,339) (49.5)
Southeast 272,881 224,549 48,332 21.5
South 214,809 354,400 (139,591) (39.4)
$2,255,987 $2,331,540 $(75,553) (3.2)
**** Represents percentages greater than 100%
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