十大正规博彩平台公司报告2007年第三季度业绩
"Granite delivered another strong quarter," Granite President and Chief Executive Officer
经营业绩-季度和年初至今
For the third quarter of 2007, total revenue decreased 10% to
For the nine-month period ended
分段结果
Granite East revenue for the quarter decreased 30% to
For the nine-month period ended
Granite West revenue for the quarter totaled
For the nine-month period ended
Granite
前景
“我们对今年剩余时间的前景是乐观的。 十大博彩正规平台西部将迎来又一个伟大的一年，十大博彩正规平台东部将在2006年取得显著进步。 For the total 公司, we are currently expecting 2007 earnings per share in the range of
"Our longer term outlook is also positive, driven by both a record level of public transportation funding in
股份回购计划
Granite is issuing a separate news release today announcing that its Board of Directors has authorized the repurchase of up to
财务业绩
本公告中的2007年和2006年财务信息反映了公司的组织和战略调整，并初步受制于季度审查的完成。 The final quarterly financial results will appear in Granite's Form 10-Q, which will be filed on or before
电话会议
Granite will conduct a conference call tomorrow,
对十大博彩正规平台
前瞻性陈述
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。
Granite今天发布了一份单独的新闻稿，宣布了一项新的股票回购计划，并增加了季度股息，建议十大正规博彩平台阅读有关这些事项的单独新闻稿。
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
GRANITE CONSTRUCTION INCORPORATED
COMPARATIVE FINANCIAL SUMMARY
(Unaudited - In Thousands, Except Per Share Data)
Three Months Ended
September 30, Variance
2007 2006 Amount Percent
Revenue
建设 $701,622 $807,384 $(105,762) (13.1)
Material sales $123,453 $133,375 $(9,922) (7.4)
Real estate $21,238 $913 $20,325 ****
Total revenue $846,313 $941,672 $(95,359) (10.1)
Cost of revenue
建设 $601,880 $736,839 $134,959 18.3
Material sales $96,130 $98,459 $2,329 2.4
Real estate $11,666 $442 $(11,224) ****
Total cost
of revenue $709,676 $835,740 $126,064 15.1
Gross profit $136,637 $105,932 $30,705 29.0
Gross profit
as a percent of
revenue 16.1% 11.2% 4.9% -
General and
administrative
expenses $63,666 $58,560 $(5,106) (8.7)
G&A expenses as
a percent of
revenue 7.5% 6.2% (1.3%) -
Gain on sales of
property and
equipment $2,994 $1,230 $1,764 ****
Other income
(expense)
Interest income $7,514 $7,055 $459 6.5
Interest expense $(1,884) $(1,319) $(565) (42.8)
Equity in income
of affiliates $4,037 $770 $3,267 ****
Other, net $(391) $(8) $(383) ****
Total other
income $9,276 $6,498 $2,778 42.8
Income before
provision for income
taxes and minority
interest $85,241 $55,100 $30,141 54.7
Minority interest $(6,504) $13,421 $(19,925) ****
Net income $53,300 $45,725 $7,575 16.6
Net income per share:
Basic $1.30 $1.12 $0.18 16.1
Diluted 1.28美元 1.10美元 $0.18 16.4
Weighted average
shares of common
stock:
Basic 41,106 40,923 183 0.4
Diluted 41,640 41,546 94 0.2
Nine Months Ended
September 30, Variance
2007 2006 Amount Percent
Revenue
建设 $1,778,638 $1,911,529 $(132,891) (7.0)
Material sales $289,655 $303,556 $(13,901) (4.6)
Real estate $36,556 $34,592 $1,964 5.7
Total revenue $2,104,849 $2,249,677 $(144,828) (6.4)
Cost of revenue
建设 $1,543,960 $1,762,217 $218,257 12.4
Material sales $229,116 $230,906 $1,790 0.8
Real estate $19,466 $17,277 $(2,189) (12.7)
Total cost
of revenue $1,792,542 $2,010,400 $217,858 10.8
Gross profit $312,307 $239,277 $73,030 30.5
Gross profit
as a percent
of revenue 14.8% 10.6% 4.2% -
General and
administrative
expenses $183,133 $155,751 $(27,382) (17.6)
G&A expenses
as a percent
of revenue 8.7% 6.9% (1.8%) -
Gain on sales of
property and
equipment $8,053 $9,517 $(1,464) (15.4)
Other income (expense)
Interest income $20,796 $16,732 $4,064 24.3
Interest expense $(4,998) $(4,105) $(893) (21.8)
Equity in income
of affiliates $4,359 $1,521 $2,838 ****
Other, net $(1,057) $2,700 $(3,757) ****
Total other
income $19,100 $16,848 $2,252 13.4
Income before
provision for
income taxes and
minority interest $156,327 $109,891 $46,436 42.3
Minority interest $(13,750) $6,769 $(20,519) ****
Net income $94,897 $77,592 $17,305 22.3
Net income per share:
Basic $2.31 $1.90 $0.41 21.6
Diluted $2.28 $1.87 $0.41 21.9
Weighted average
shares of common stock:
Basic 41,065 40,853 212 0.5
Diluted 41,587 41,434 153 0.4
GRANITE CONSTRUCTION INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited - In thousands, except share and per share data)
September 30, December 31,
2007 2006
Assets
Current assets
Cash and cash equivalents $265,605 $204,893
Short-term marketable securities 106,675 141,037
Accounts receivable, net 536,519 492,229
Costs and estimated earnings in
excess of billings 24,489 15,797
Inventories 50,438 41,529
Real estate held for sale 57,296 55,888
Deferred income taxes 36,041 36,776
Equity in construction joint
ventures 36,851 31,912
Other current assets 43,370 63,144
Total current assets 1,157,284 1,083,205
Property and equipment, net 487,000 429,966
Long-term marketable securities 61,308 48,948
Investment in affiliates 23,256 21,471
Other assets 78,119 49,248
Total assets $1,806,967 $1,632,838
Liabilities and Shareholders' Equity
Current liabilities
Current maturities of long-term debt $26,589 $28,660
Accounts payable 261,379 257,612
Billings in excess of costs and
estimated earnings 274,209 287,843
Accrued expenses and other current
liabilities 209,894 189,328
Total current liabilities 772,071 763,443
Long-term debt 140,410 78,576
Other long-term liabilities 65,111 58,419
Deferred income taxes 19,788 22,324
Minority interest in consolidated
subsidiaries 28,148 15,532
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;
issued and outstanding
41,916,706 shares in
2007 and 41,833,559 shares in
2006 419 418
Additional paid-in capital 82,678 78,620
Retained earnings 694,557 612,875
Accumulated other comprehensive
income 3,785 2,631
Total shareholders' equity 781,439 694,544
Total liabilities and
shareholders' equity $1,806,967 $1,632,838
September 30, December 31,
Financial Position 2007 2006
Working capital $385,213 $319,762
Current ratio 1.50 1.42
Debt to total capitalization 0.18 0.13
Total liabilities to equity ratio 1.31 1.35
GRANITE CONSTRUCTION INCORPORATED
REVENUE AND BACKLOG ANALYSIS
(Unaudited - Dollars In Thousands)
BY MARKET 证券交易委员会TOR
Revenue
Three Months Ended September 30, Variance
2007 2006 Amount Percent
Public Sector $578,356 $635,010 $(56,654) (8.9)
Private Sector 123,266 172,374 (49,108) (28.5)
总 sales 123,453 133,375 (9,922) (7.4)
Real Estate 21,238 913 20,325 ****
$846,313 $941,672 $(95,359) (10.1)
BY MARKET 证券交易委员会TOR
Backlog
September 30, Variance
2007 2006 Amount Percent
Public Sector $2,169,060 $1,872,944 $296,116 15.8
Private Sector 167,461 247,116 (79,655) (32.2)
$2,336,521 $2,120,060 $216,461 10.2
BY GEOGRAPHIC AREA
Revenue
Three Months Ended September 30, Variance
2007 2006 Amount Percent
加州 $334,854 $407,047 $(72,193) (17.7)
West (Excl. CA) 325,392 310,737 14,655 4.7
Midwest 29,620 13,596 16,024 ****
Northeast 52,542 73,519 (20,977) (28.5)
Southeast 65,371 77,813 (12,442) (16.0)
South 38,534 58,960 (20,426) (34.6)
$846,313 $941,672 $(95,359) (10.1)
BY GEOGRAPHIC AREA
Backlog
September 30, Variance
2007 2006 Amount Percent
加州 $455,014 $610,308 $(155,294) (25.4)
West (Excl. CA) 518,755 609,422 (90,667) (14.9)
Midwest 350,496 3,805 346,691 ****
Northeast 166,453 243,968 (77,515) (31.8)
Southeast 679,635 399,096 280,539 70.3
South 166,168 253,461 (87,293) (34.4)
$2,336,521 $2,120,060 $216,461 10.2
**** Represents percentages greater than 100%
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