除去,加州。--(BUSINESS WIRE)-- 十大正规博彩平台公司 (NYSE:GVA) today reported net income of 1.224亿美元 for the full-year 2008 compared with 1.121亿美元 for 2007. Diluted earnings per share were 3.21美元 for the full-year 2008 compared with 2.71美元 per diluted share for the full-year 2007.

For the fourth quarter of 2008, 十大正规博彩平台 reported net income of $31.9 million, or 0.84美元 per diluted share. This compares with net income of 1720万美元, or 0.42美元 per diluted share for the fourth quarter of 2007.

"I am very pleased with our accomplishments this year," said William G. Dorey, 十大博彩正规平台 president and chief executive officer. "We have delivered strong business results and increased value to our shareholders by significantly improving bottom line performance on our large projects. Additionally, we continue to maintain a strong balance sheet, which provides us the financial strength and flexibility to successfully navigate through today’s challenging economic environment."

2008年全年财务业绩

公司总

    --  Revenues were 27亿美元, essentially flat compared to 2007.    --  Gross profit as a percent of revenue for the year ended December 31,        2008, increased to 18% compared with 15% last year, reflecting a        significant improvement in gross profit from 十大正规博彩平台东 and a slight        decrease in gross profit from 十大博彩正规平台西.    --  建设 materials gross profit as a percent of material sales was        12% in 2008 compared with 20% in 2007. The decrease was driven by        weakness in the private sector market, a shift in demand for        lower-valued products as well as inventory reserve adjustments.    --  General and administrative expenses increased to 2.575亿美元 or 10%        of revenue compared with 2.462亿美元 or 9% of revenue in 2007.    --  Operating income increased to 2.167亿美元 compared with $174.9        million in 2007, reflecting improved performance in 十大博彩正规平台东.    --  Contract backlog at 二零零八年十二月三十一日 was 17亿美元 compared with        21亿美元 a year ago.    --  Other income for the year was 1670万美元 compared with 2350万美元        last year.    --  Minority interest in consolidated subsidiaries increased to $43.3        million for the year compared with 2090万美元 in 2007. The increase        was primarily due to improved execution on 十大博彩正规平台东 consolidated        joint venture projects and a 1770万美元 claim settlement.    --  At 二零零八年十二月三十一日, cash and short-term marketable securities totaled        4.992亿美元 including approximately 1.21亿美元 of cash and cash        equivalents from the 公司’s consolidated joint ventures.

十大博彩正规平台西

    --  十大正规博彩平台西 revenues totaled 20亿美元 compared with 19亿美元        for the prior year.    --  Gross profit as a percent of revenue for the year was 18% compared with        19% last year.    --  Operating income decreased to 2.054亿美元 for the same period        compared with 2.302亿美元 in 2007.

十大博彩正规平台东

    --  十大博彩正规平台东 revenue totaled 6.95亿美元 compared with 7.685亿美元        for the prior year.    --  Gross margin as a percent of revenue for the year was 17% compared with        3% last year. The increase reflected improved project performance, the        settlement of a significant claim, and projects reaching the profit        recognition threshold.    --  Operating income totaled 9360万美元 compared with 080万美元 in        2007.

十大博彩正规平台 土地公司 ("GLC")

    --  GLC revenue was 900万美元 compared with 4070万美元 in 2007,        reflecting the variability in the timing of real estate sales        transactions.    --  Gross loss for the period was 150万美元 compared with a gross profit        of 1580万美元 last year.    --  Operating loss was 410万美元 for the year compared with operating        income of 1200万美元 in 2007. The 2008 loss includes a 450万美元        impairment charge related to residential development projects in        加州.

2008年第四季度财务业绩

公司总

    --  Total revenues for the quarter were 6.273亿美元, essentially flat        compared with 2007.    --  Gross profit as a percent of revenue increased in the quarter to 19%        from 16% in 2007.    --  Operating income for the quarter was 5840万美元, compared with $37.7        million in the prior year, reflecting increases in 十大正规博彩平台西 and        十大博彩正规平台东.    --  Other income for the quarter was 680万美元 compared with 440万美元        last year, reflecting a 1440万美元 pre-tax gain related to the sale        of our remaining shares in 议会控股有限公司 partially offset by a        1090万美元 loss on available-for-sale securities.    --  General and administrative expenses decreased $3.9 million to $59.2        million or 9% of revenue compared with 6310万美元 or 10% of revenue        in 2007. The decrease reflects the 公司’s ongoing initiative to        reduce general and administrative expenses throughout the organization.    --  Minority interest for the quarter increased $5.2 million to $12.3        million.

十大博彩正规平台西

    --  Revenue for the quarter totaled 4.632亿美元 compared with $445.8        million for the same period in 2007.    --  Gross profit as a percent of revenue for the fourth quarter was 18%        compared with 19% in 2007.    --  Operating income increased 640万美元 for the quarter to 5010万美元        compared with 4370万美元 for the fourth quarter last year.

十大博彩正规平台东

    --  Revenue for the quarter was 1.632亿美元 compared with 1.831亿美元        for the same period last year.    --  Gross profit as a percent of revenue for the quarter increased to 20%        compared with 10% in the same period last year.    --  Operating income for the quarter increased to 2580万美元 compared        with 1410万美元 for the fourth quarter 2007.

十大博彩正规平台 土地公司

    --  GLC revenue for the quarter was 090万美元 compared with 420万美元        for the same period last year.    --  Gross profit as a percent of revenue for the period was 21% compared        with a negative gross profit margin of 30% last year.    --  Operating loss for the quarter was 030万美元 compared with a loss of        210万美元 in the fourth quarter of 2007.

前景

"Over the longer term, we are optimistic about the growing need for the services and materials we provide. While the current level of bidding activity in the West remains relatively healthy, we are experiencing a lot of competition for smaller-sized projects which we expect will continue through 2009," said Dorey.

"In the East, we are maintaining solid margins and benefiting from overall improved execution. We are selectively pursuing projects across our three 十大博彩正规平台东 regions and expect to build our backlog over the year.

"Additionally, while we are encouraged by the potential increase in infrastructure funding as a result of the federal stimulus bill, it is too early for us to know to what degree it will impact our business.

"As we look to 2009, our priority is to maximize profitability by operating as efficiently and effectively as possible. We remain focused on driving sustainable long term growth for our shareholders. With our strong balance sheet and diversified business strategy, we are positioned to take advantage of the opportunities our markets have to offer."

电话会议

十大博彩正规平台 will conduct a conference call tomorrow, 二月二十六日, at 东部时间上午11时/ 上午8点 to discuss the results for the fourth quarter ended 二零零八年十二月三十一日. Access to a live audio webcast is available at www.zkyk.net/investor-relations. The live conference call may be accessed by calling (877) 864-2735 in the U.S. and 加拿大 and (706) 634-7039 for international listeners. The conference ID for the call is 77458748. The conference call will be recorded and available for replay from approximately two hours after the live call through 2009年3月5日 by calling (800) 642-1687 or (706) 645-9291. 录音的会议ID为77458748。

对十大博彩正规平台

十大正规博彩平台公司 is a member of the 标普 400 Midcap Index, the Domini 400 Social Index and the Russell 2000. 十大正规博彩平台 建设 公司, a wholly owned subsidiary, is one of the nation’s largest diversified heavy civil contractors and construction materials producers. 十大正规博彩平台公司 serves public and private sector clients through its offices and subsidiaries nationwide. For more information about 十大博彩正规平台, please visit their website at www.zkyk.net.

前瞻性陈述

This press release contains statements that are not based on historical facts and which may be forward-looking in nature. Under the Private Securities Litigation Reform Act of 1995, a "safe harbor" may be provided to us for certain of these forward-looking statements. Words such as "outlook," "believes," "expects," "appears," "may," "will," "should," "anticipates" or the negative thereof or comparable terminology, are intended to identify these forward-looking statements. These forward-looking statements are estimates reflecting the best judgment of our senior management and are based on our current expectations and projections concerning future events, many of which are outside of our control, and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, those risks described in this Report under "Item 1A. Risk Factors." Except as required by law, we undertake no obligation to revise or update any forward-looking statements for any reason. As a result, the reader is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release.

十大博彩正规平台公司CONDENSED CONSOLIDATED STATEMENTS OF INCOME(In Thousands, Except Per Share Data)                         Three Months Ended         Years Ended                         December 31,               December 31,                         2008         2007          2008           2007                         (Unaudited)                (Unaudited)    (1)Revenue建设             $ 556,659    $ 542,864     $ 2,312,116    $ 2,321,502Material sales             69,794       86,045        353,115        375,700Real estate                871          4,156         9,013          40,712Total revenue              627,324      633,065       2,674,244      2,737,914Cost of revenue建设               446,649      458,104       1,883,742      2,002,064Material sales             63,287       71,118        311,246        300,234Real estate                690          5,406         10,536         24,872Total cost of revenue      510,626      534,628       2,205,524      2,327,170Gross profit               116,698      98,437        468,720        410,744General and                59,188       63,069        257,532        246,202administrative expensesGain on sales of           939          2,290         5,503          10,343property and equipmentOperating income           58,449       37,658        216,691        174,885Other income (expense)Interest income            3,358        6,129         18,445         26,925Interest expense           (3,130  )    (1,369  )     (16,001   )    (6,367    )Acquisition expense        -            (7,752  )     -              (7,752    )Equity in income (loss)    378          846           (1,058    )    5,205of affiliatesOther, net                 6,157        6,555         15,353         5,498Total other income         6,763        4,409         16,739         23,509Income before provisionfor income taxes and       65,212       42,067        233,430        198,394minority interestProvision for              21,011       17,790        67,692         65,470income taxIncome before minority     44,201       24,277        165,738        132,924interestMinority interest inconsolidated               (12,276 )    (7,109  )     (43,334   )    (20,859   )subsidiariesNet income               $ 31,925     $ 17,168      $ 122,404      $ 112,065Net income pershare:Basic                    $ 0.85       $ 0.43        $ 3.25         $ 2.74Diluted                  $ 0.84       $ 0.42        $ 3.21         $ 2.71Weighted average sharesof common stock:Basic                      37,434       40,275        37,606         40,866Diluted                    38,013       40,802        38,106         41,389(1) Derived from 十大正规博彩平台’s annual audited consolidated financial statements.

十大博彩正规平台公司CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands, except share and per share data)                                                   December 31,   December 31,                                                   2008           2007                                                   (Unaudited)    (1)AssetsCurrent assetsCash and cash equivalents                          $ 460,843      $ 352,434Short-term marketable securities                     38,320         77,758Accounts receivable, net                             314,733        397,097Costs and estimated earnings in excess of billings   13,295         17,957Inventories, net                                     55,223         55,557Real estate held for development and sale            75,089         51,688Deferred income taxes                                43,637         43,713Equity in construction joint ventures                44,681         34,340Other current assets                                 56,742         96,969Total current assets                                 1,102,563      1,127,513Property and equipment, net                          517,678        502,901Long-term marketable securities                      21,239         55,156Investment in affiliates                             19,996         26,475Other noncurrent assets                              81,979         74,373Total assets                                       $ 1,743,455    $ 1,786,418Liabilities and Shareholders’ EquityCurrent liabilitiesCurrent maturities of long-term debt               $ 39,692       $ 28,696Accounts payable                                     174,626        213,135Billings in excess of costs and estimated earnings   227,364        275,849Accrued expenses and other current liabilities       184,939        212,265Total current liabilities                            626,621        729,945Long-term debt                                       250,687        268,417Other long-term liabilities                          43,604         46,441Deferred income taxes                                18,261         17,945Minority interest in consolidated subsidiaries       36,773         23,471Shareholders’ equityPreferred stock, 0.01美元 par value, authorized         -              -3,000,000 shares; none outstandingCommon stock, 0.01美元 par value, authorized150,000,000 shares in 2008 and in 2007;issued and outstanding 38,266,791 shares as of       383            395二零零八年十二月三十一日 and 39,450,923 shares as of二零零七年十二月三十一日Additional paid-in capital                           85,035         79,007Retained earnings                                    682,237        619,699Accumulated other comprehensive (loss) income        (146      )    1,098Total shareholders’ equity                           767,509        700,199Total liabilities and shareholders’ equity         $ 1,743,455    $ 1,786,418                                                   December 31,   December 31,Financial Position                                 2008           2007Working capital                                    $ 475,942      $ 397,568Current ratio                                        1.76           1.54Debt to total capitalization                         0.27           0.30Total liabilities to equity ratio                    1.27           1.55(1) Derived from 十大博彩正规平台’s annual audited consolidated financial statements.

十大正规博彩平台公司CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In Thousands)Years Ended December 31,                              2008          2007                                                      (Unaudited)   (1)Operating activitiesNet income                                            $ 122,404     $ 112,065Adjustments to reconcile net income to net cashprovided by operating activities:Impairment of real estate held for development and      4,500         3,000saleInventory reserve adjustment                            12,848        478Depreciation, depletion and amortization                87,311        82,157Provision for doubtful accounts                         10,958        3,894Gain on sales of property and equipment                 (5,503   )    (10,343  )Change in deferred income taxes                         1,190         (7,822   )Stock-based compensation                                7,463         7,342Excess tax benefit on stock-based compensation          (851     )    (3,659   )Minority interest in consolidated subsidiaries          43,334        20,859Acquisition expense                                     -             7,752Equity in loss (income) of affiliates                   1,058         (5,205   )Acquisition of minority interest                        (16,617  )    -Gain on sale of investment in affiliate                 (14,416  )    -Loss on sale of marketable securities                   10,939        -Gain on early extinguishment of debt                    (1,150   )    -Changes in assets and liabilities, net of the effects   (6,132   )    24,270of acquisitionsNet cash provided by operating activities               257,336       234,788Investing activitiesPurchases of marketable securities                      (71,630  )    (152,954 )Maturities of marketable securities                     108,090       195,313Purchase of company owned life insurance                (8,000   )    -Proceeds from sale of marketable securities             22,499        -Release of funds for acquisition of minority interest   28,332        -Additions to property and equipment                     (94,135  )    (118,612 )Proceeds from sales of property and equipment           14,539        17,777Acquisition of business                                 (14,022  )    (76,427  )Contributions to affiliates                             (8,053   )    (6,805   )Distributions from affiliates                           3,895         -Acquisition of minority interest                        -             (28,495  )Other investing activities, net                         228           3,459Net cash used in investing activities                   (18,257  )    (166,744 )Financing activitiesProceeds from long-term debt                            3,725         330,260Long-term debt principal payments                       (17,092  )    (139,598 )Repurchase of common stock                              (45,540  )    (98,014  )Cash dividends paid                                     (20,055  )    (16,764  )Contributions from minority partners                    5,026         33,287Distributions to minority partners                      (45,909  )    (33,813  )Acquisition of minority interest                        (11,716  )    -Excess tax benefit on stock-based compensation          851           3,659Other financing activities                              40            480Net cash (used in) provided by financing activities     (130,670 )    79,497Increase in cash and cash equivalents                   108,409       147,541Cash and cash equivalents at beginning of period        352,434       204,893Cash and cash equivalents at end of period            $ 460,843     $ 352,434(1) Derived from 十大博彩正规平台’s annual audited consolidated financial statements.

十大博彩正规平台公司Business Segment Information(Unaudited - In Thousands)          Three Months Ended December 31,             Year Ended December 31,                         十大正规博彩平台      十大正规博彩平台 Land                                  十大正规博彩平台          十大博彩正规平台西   East         公司         十大正规博彩平台西   十大正规博彩平台东   Land                                                                                    公司2008Revenue   $ 463,244      $ 163,209    $ 871           $ 1,970,196    $ 695,035      $ 9,013Grossprofit    $ 81,202       $ 32,998     $ 181           $ 348,259      $ 120,866      $ (1,523 )(loss)Grossprofit(loss) as   17.5      %    20.2    %    20.8      %     17.7      %    17.4      %    -16.9  %a percentofrevenueOperatingincome    $ 50,115       $ 25,827     $ (348      )   $ 205,399      $ 93,622       $ (4,143 )(loss)Operatingincome(loss) as   10.8      %    15.8    %    -40.0     %     10.4      %    13.5      %    -46.0  %a percentofrevenue2007Revenue   $ 445,782      $ 183,127    $ 4,156         $ 1,928,751    $ 768,451      $ 40,712Grossprofit    $ 84,035       $ 17,346     $ (1,250    )   $ 370,429      $ 25,824       $ 15,840(loss)Grossprofit(loss) as   18.9      %    9.5     %    -30.1     %     19.2      %    3.4       %    38.9   %a percentofrevenueOperatingincome    $ 43,715       $ 14,125     $ (2,089    )   $ 230,191      $ 766          $ 12,031(loss)Operatingincome(loss) as   9.8       %    7.7     %    -50.3     %     11.9      %    0.1       %    29.6   %a percentofrevenue十大博彩正规平台公司Contract Backlog(Unaudited - In Thousands)ContractBacklog   二零零八年十二月三十一日           September 30, 2008             二零零七年十二月三十一日byDivision十大正规博彩平台   $ 788,872        46.4    %  $ 915,472         50.3      %  $ 854,142        41.0   %West十大博彩正规平台     910,524        53.6    %    906,116         49.7      %    1,230,403      59.0   %EastTotal     $ 1,699,396      100.0   %  $ 1,821,588       100.0     %  $ 2,084,545      100.0  %

    来源: 十大正规博彩平台公司