Granite公布2013年第一季度财务业绩
-- First quarter revenues increased to 3.787亿美元 , compared with $310.2
million in the first quarter of 2012, including 6370万美元 associated
with the acquisition of 肯尼建筑公司
-- Operating segment gross margins in line with last year
-- Balance sheet remains strong with 3.636亿美元 in cash and marketable
securities
-- Backlog totaled 24亿美元 compared with 17亿美元 at year-end
"As expected, we had strong backlog growth in the quarter driven by significant large project awards," said
“我们对肯尼的整合进展顺利，符合我们的预期，并加强了我们战略计划的持续执行。 我们正在成功地将我们的业务扩展到目标终端市场，如电力输送、供水和污水基础设施以及隧道掘进，所有这些都具有长期的吸引力。”
2013年第一季度财务业绩
-- Revenues for the quarter totaled 3.787亿美元 , compared with $310.2
million in 2012. Revenues included 6370万美元 from Kenny 建设
公司 ("Kenny"), which Granite acquired on 2012年12月31日 .
-- Gross profit margin was 7.9 percent compared with 8.0 percent in 2012.
-- Selling, general and administrative expenses ("SG&A") for the first
quarter were 5770万美元 , compared with 4510万美元 in 2012. Kenny
accounted for a significant portion of the increase.
-- Operating loss for the quarter was 2600万美元 compared with $16.3
million in the prior year.
-- Total contract backlog at 2013年3月31日 , was 24亿美元 compared with
17亿美元 at 2012年12月31日 and 21亿美元 at 2012年3月31日 .
Backlog at 2013年3月31日 included 7.33亿美元 associated with our
portion of the 塔潘泽桥 project in 纽约 .
建设
-- 建设 revenues in the first quarter were 1.771亿美元 compared
with 1.179亿美元 a year ago. The increase reflects 5330万美元
associated with Kenny.
-- Gross profit margin was 7.5 percent as compared with 7.3 percent a year
ago. Included in the first quarter of 2013 was a 160万美元
amortization charge for intangible assets (acquired backlog) associated
with the Kenny acquisition. There were no significant changes in project
profitability from revisions in estimates during the first quarter of
2013.
-- 大型工程建设 revenues for the quarter were 1.717亿美元
compared with 1.639亿美元 at 2012年3月31日 .
-- Gross profit margin for the quarter was 13.2 percent compared with 13.6
percent for the same period last year. Changes in project profitability
from revisions in estimates during the first quarter of 2013 resulted in
a net increase of 920万美元 .
建筑材料
-- 建筑材料 revenue for the quarter totaled 2980万美元
compared with 2560万美元 for the same period last year.
-- Gross loss on the sale of construction materials was 600万美元 ,
essentially unchanged from a year ago.
展望与指引
“在短期内，我们垂直整合业务的某些市场继续面临挑战，因为我们的建筑服务和建筑材料的产能超过了需求。 虽然我们不会在一夜之间看到转机，但我们的业务基本面仍然非常稳固，我们的未来非常光明。”
“正如我们2013年的指导所反映的那样，我们预计我们的业务收入将至少增长两位数。 我们还预计十大正规博彩平台将继续产生强劲的现金流，使我们能够进一步实施我们的长期战略计划。 Our solid
The 公司's guidance for 2013 is as follows: 建设 segment revenues are expected to total
Selling, general and administrative expenses are expected to be
电话会议
Granite will conduct a conference call today,
对十大博彩正规平台
Through its offices and subsidiaries nationwide,
前瞻性陈述
本新闻稿中包含的任何非基于历史事实的陈述，包括有关未来事件、事件、情况、活动、业绩、结果和结果的陈述，均构成1995年《私人证券诉讼改革法案》所指的前瞻性陈述。 这些前瞻性陈述是通过诸如“未来”、“展望”、“假设”、“相信”、“期望”、“估计”、“预期”、“打算”、“计划”、“出现”、“可能”、“将”、“应该”、“可能”、“将”、“将”、“继续”等词语及其否定词或其他可比术语或其所处的环境来识别的。 这些前瞻性陈述是反映高级管理层最佳判断的估计，反映了我们对未来事件、事件、情况、活动、业绩、结果和结果的当前预期。 这些期望可能会实现，也可能不会实现。 其中一些期望可能基于可能被证明是不正确的信念、假设或估计。 此外，我们的业务和运营涉及许多风险和不确定因素，其中许多是我们无法控制的，这可能导致我们的预期无法实现或对我们的业务、财务状况、运营结果、现金流和流动性产生重大影响。 Such risks and uncertainties include, but are not limited to, those described in greater detail in our filings with the
由于与我们的前瞻性陈述相关的固有风险和不确定性，请读者不要过分依赖它们。 读者还需注意，本文中包含的前瞻性陈述仅在本新闻稿发布之日发表，除法律要求外，我们不承担因任何原因修改或更新任何前瞻性陈述的义务。
GRANITE CONSTRUCTION INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited - in thousands, except share and per share data)
--------------------------------------------------------------------------------
March 31, December March 31,
31,
2013 2012 2012
-------------------------------- - - ----------- - - ----------- - - -----------
ASSETS
Current assets
Cash and cash equivalents $ 260,773 $ 321,990 $ 226,226
Short-term marketable securities 44,841 56,088 70,444
Receivables, net 260,231 325,529 208,707
Costs and estimated earnings in
excess of billings 48,428 34,116 49,962
Inventories 66,291 59,785 67,782
Real estate held for development
and sale 50,303 50,223 58,363
Deferred income taxes 36,687 36,687 38,571
Equity in construction joint
ventures 171,265 105,805 91,951
Other current assets 37,401 31,834 34,882
-------------------------------- - - - --------- - - - --------- - - - ---------
Total current assets 976,220 1,022,057 846,888
Property and equipment, net 477,666 481,478 442,132
Long-term marketable securities 57,958 55,342 70,114
Investments in affiliates 30,742 30,799 30,972
Goodwill 53,593 55,419 9,900
Other noncurrent assets 82,531 84,392 69,949
-------------------------------- - - - --------- - - - --------- - - - ---------
Total assets 1678710美元 1729487美元 1469955美元
-------------------------------- - - - --------- - - - --------- - - - ---------
LIABILITIES AND EQUITY
Current liabilities
Current maturities of long-term
debt $ 8,353 $ 8,353 $ 9,102
Current maturities of
non-recourse debt 4,132 10,707 19,765
Accounts payable 169,940 202,541 129,480
Billings in excess of costs and
estimated earnings 124,609 139,692 87,370
Accrued expenses and other
current liabilities 188,685 169,979 148,196
-------------------------------- - - - --------- - - - --------- - - - ---------
Total current liabilities 495,719 531,272 393,913
Long-term debt 270,148 270,148 208,501
Long-term non-recourse debt 7,628 922 1,371
Other long-term liabilities 49,231 47,124 50,011
Deferred income taxes 8,055 8,163 3,393
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
38,810,255 shares as of March
31, 2013 , 38,730,665 shares as
of 2012年12月31日 and
38,621,370 shares as of March
31, 2012 388 387 386
Additional paid-in capital 118,265 117,422 110,432
Retained earnings 685,023 712,144 670,462
-------------------------------- - - - --------- - - - --------- - - - ---------
Total Granite 建设
Incorporated shareholders'
equity 803,676 829,953 781,280
Noncontrolling interests 44,253 41,905 31,486
-------------------------------- - - - --------- - - - --------- - - - ---------
Total equity 847,929 871,858 812,766
-------------------------------- - - - --------- - - - --------- - - - ---------
Total liabilities and equity 1678710美元 1729487美元 1469955美元
-------------------------------- - - - --------- - - - --------- - - - ---------
GRANITE CONSTRUCTION INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited - in thousands, except per share data)
---------------------------------------------------------- - - ----------- - - -----------
Three Months Ended March 31, 2013 2012
---------------------------------------------------------- - - ----------- - - -----------
Revenue
建设 177119美元 117946美元
大型工程建设 171,714 163,928
建筑材料 29,750 25,623
Real Estate 121 2,663
---------------------------------------------------------- - - - ------- - - - - ------- -
Total revenue 378,704 310,160
---------------------------------------------------------- - - - ------- - - - - ------- -
Cost of revenue
建设 163,918 109,366
大型工程建设 148,993 141,679
建筑材料 35,724 31,573
Real Estate 11 2,606
---------------------------------------------------------- - - - ------- - - - - ------- -
Total cost of revenue 348,646 285,224
---------------------------------------------------------- - - - ------- - - - - ------- -
Gross profit 30,058 24,936
Selling, general and administrative expenses 57,659 45,090
Gain on restructuring 498 1,902
Gain on sales of property and equipment 1,087 1,917
---------------------------------------------------------- - - - ------- - - - - ------- -
Operating loss (26,016 ) (16,335 )
Other (expense) income
Interest income 129 1,044
Interest expense (3,646 ) (3,182 )
Equity in loss of affiliates (423 ) (617 )
Other income, net 1,103 6,871
---------------------------------------------------------- - - - ------- - - - - ------- -
Total other (expense) income (2,837 ) 4,116
---------------------------------------------------------- - - - ------- - - - - ------- -
Loss before benefit from income taxes (28,853 ) (12,219 )
Benefit from income taxes (9,027 ) (3,532 )
---------------------------------------------------------- - - - ------- - - - - ------- -
Net loss (19,826 ) (8,687 )
Amount attributable to noncontrolling interests (2,156 ) (3,086 )
---------------------------------------------------------- - - - ------- - - - - ------- -
Net loss attributable to 十大正规博彩平台公司 $ （21,982） $ （11,773）
---------------------------------------------------------- - - - ------- - - - - ------- -
Net loss per share attributable to common shareholders:
Basic $ (0.57 ) $ (0.31 )
Diluted $ (0.57 ) $ (0.31 )
Weighted average shares of common stock:
Basic 38,610 38,265
Diluted 38,610 38,265
---------------------------------------------------------- - - - ------- - - - - ------- -
GRANITE CONSTRUCTION INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited - in thousands)
--------------------------------------------------------------------------- - - ----------- - - -----------
Three Months Ended March 31, 2013 2012
--------------------------------------------------------------------------- - - - ------- - - - - ------- -
Operating activities
Net loss $ （19,826） $ (8,687 )
Adjustments to reconcile net loss to net cash used in operating activities:
贬值, depletion and amortization 15,970 14,961
Gain on sales of property and equipment (1,087 ) (1,917 )
Stock-based compensation 5,386 4,196
Changes in assets and liabilities (55,096 ) (31,426 )
--------------------------------------------------------------------------- - - - ------- - - - - ------- -
Net cash used in operating activities (54,653 ) (22,873 )
--------------------------------------------------------------------------- - - - ------- - - - - ------- -
Investing activities
Purchases of marketable securities (14,975 ) (24,987 )
Maturities of marketable securities 20,000 15,000
Proceeds from sale of marketable securities 5,000 20,000
Additions to property and equipment (9,956 ) (9,225 )
Proceeds from sales of property and equipment 3,417 2,883
Other investing activities, net (57 ) (294 )
--------------------------------------------------------------------------- - - - ------- - - - - ------- -
Net cash provided by investing activities 3,429 3,377
--------------------------------------------------------------------------- - - - ------- - - - - ------- -
Financing activities
Long-term debt principal payments -- (2,500 )
Cash dividends paid (5,045 ) (5,021 )
Purchase of common stock (4,907 ) (3,837 )
Other financing activities, net (41 ) 90
--------------------------------------------------------------------------- - - - ------- - - - - ------- -
Net cash used in financing activities (9,993 ) (11,268 )
--------------------------------------------------------------------------- - - - ------- - - - - ------- -
Decrease in cash and cash equivalents (61,217 ) (30,764 )
Cash and cash equivalents at beginning of period 321,990 256,990
--------------------------------------------------------------------------- - - - ------- - - - - ------- -
Cash and cash equivalents at end of period 260773美元 226226美元
--------------------------------------------------------------------------- - - - ------- - - - - ------- -
GRANITE CONSTRUCTION INCORPORATED
Business Segment Information
(Unaudited - dollars in thousands)
------------------------------------ - - ----------- - - ----------- - - ----------- - - ---------
Three Months Ended March 31,
Large 建设
Project
建设 材料 Real
建设 Estate
------------------------------------ - - ----------- - - ----------- - - ----------- - - ---------
2013
Revenue 177119美元 171714美元 29750美元 $ 121
Gross profit (loss) 13,201 22,721 (5,974 ) 110
Gross profit as a percent of revenue 7.5 % 13.2 % (20.1 )% 90.9 %
2012
Revenue 117946美元 163928美元 25623美元 2663美元
Gross profit (loss) 8,580 22,249 (5,950 ) 57
Gross profit as a percent of revenue 7.3 % 13.6 % (23.2 )% 2.1 %
------------------------------------ - - - ------- - - - - ------- - - - - ------ -- - - - ----- -
GRANITE CONSTRUCTION INCORPORATED
Contract Backlog by Segment
(Unaudited - dollars in thousands)
--------------------------- - - ----------- - - ------- - - ----------- - - ------- - - ----------- - - -------
Contract Backlog by Segment 2013年3月31日 2012年12月31日 2012年3月31日
--------------------------- - - ----------------------- - - ----------------------- - - -----------------------
建设 $ 740,259 30.8 % $ 629,898 36.9 % $ 622,240 29.9 %
大型工程建设 1,660,056 69.2 % 1,077,417 63.1 % 1,460,674 70.1 %
--------------------------- - - - --------- - - ----- - - - - --------- - - ----- - - - - --------- - - ----- -
Total 2400315美元 100.0 % 1707315美元 100.0 % 2082914美元 100.0 %
--------------------------- - - - --------- - - ----- - - - - --------- - - ----- - - - - --------- - - ----- -
来源: 十大博彩正规平台公司 