Granite公布2009年第一季度财务业绩
"Our business continues to perform well despite today's economic challenges," said
2009年第一季度财务业绩
-- Total revenue for the quarter ended 二零零九年三月三十一日 was 3.474亿美元
compared with 4.548亿美元 in 2008.
-- Gross profit as a percentage of revenue for the quarter decreased to 20
percent compared with 22 percent in 2008.
-- Gross loss on the sale of construction materials was 230万美元 in
2009 compared with a gross profit of 250万美元 in 2008. The company's
construction materials business continues to be affected by lower sales
volume.
-- General and administrative expenses decreased $7.0 million to $53.6
million or 15 percent of revenue compared with 6070万美元 or 13
percent of revenue in 2008.
-- Operating income for the quarter was 1690万美元 compared with $38.4
million in the prior year.
-- Other income for the quarter was 190万美元 compared with 930万美元
last year. The decrease was due to lower investment interest income as
well as a reduction in the gain on the sale of gold, a by-product of one
of our aggregate facilities. In 2009, the gain from gold sales was $4.4
million compared with 930万美元 in the first quarter of 2008.
-- Net income attributable to noncontrolling interest in joint ventures was
510万美元 compared with 2250万美元 in 2008. The decrease was
related to the settlement of a significant claim associated with a
completed large joint-venture project in 南加州 which was
recognized in the first quarter of 2008.
-- At 二零零九年三月三十一日 , cash and short-term marketable securities totaled
4.128亿美元 , including 1.207亿美元 of cash and cash equivalents
from the company's consolidated joint ventures.
-- Total contract backlog at 二零零九年三月三十一日 , was 16亿美元 compared with
19亿美元 at 2008年3月31日 . Not included in contract backlog at
二零零九年三月三十一日 , is the company's 34 percent share of the 13亿美元
contract for the Houston Metro Light Rail project awarded in the second
quarter of 2009. The award will be recorded in contract backlog
incrementally as Notices to Proceed are received.
十大博彩正规平台西
-- Revenue for the first quarter totaled 1.97亿美元 compared with
2.4亿美元 for the same period in 2008. 十大正规博彩平台西 continues to
experience a competitive bidding environment as well as a reduction in
the demand for construction materials.
-- Gross profit as a percentage of revenue for the quarter was unchanged at
17 percent as a result of higher construction gross profit offset by a
loss from materials sales during the quarter.
-- Operating income for the quarter increased 200万到670万美元
compared with 480万美元 for the first quarter of last year.
十大正规博彩平台东
-- Revenue for the first quarter totaled 1.499亿美元 compared with
2.141亿美元 for the same period in 2008.
-- Gross profit as a percentage of revenue for the quarter was 23 percent
compared with 27 percent in the same period last year.
-- Operating income for the quarter decreased to 2830万美元 compared
with 5210万美元 for the first quarter of 2008. Operating results in
both the first quarter of 2008 and 2009 were positively affected by the
recognition of project settlements related to outstanding issues.
Results in 2009 include the 1600万美元 settlement associated with a
large project in the Northeast. Results in 2008 include the $28.6
million settlement related to a large project in 南加州 .
前景
他说：“我们在2009年开了个好头。 “在十大博彩正规平台西，我们的公共工程竞标环境变得非常活跃，部分原因是刺激计划资助的项目开始竞标。 然而，由于竞争环境继续影响我们的命中率和利润率预期，我们预计西方市场将是充满挑战的一年。 在规模较小的传统分支机构以及我们的建筑材料业务中尤其如此。 幸运的是，我们拥有丰富的经验和足够的资金来竞标更大、更复杂的项目，这些项目由于其复杂性和粘合要求的增加，往往无法吸引相同水平的竞争力。 我们认为，在这个商业周期中，较大的项目提供了最令人鼓舞的收入和利润率增长机会。
“我们预计十大博彩正规平台东在积压大量工作的同时，毛利率将继续保持在15%左右。 我们的投标渠道仍然满额，我们对这项业务的机会感到兴奋。 We are tracking more than
"Our 2009 outlook includes revenue expectations for 十大博彩正规平台西 to be in the range of
电话会议
Granite will conduct a conference call tomorrow,
对十大正规博彩平台
前瞻性陈述
本新闻稿包含的陈述并非基于历史事实，可能具有前瞻性。 根据1995年《私人证券诉讼改革法案》（Private Securities Litigation Reform Act of 1995），十大博彩正规平台可能会为某些前瞻性陈述提供“安全港”。 诸如展望、相信、预期、出现、可能、将、应该、预期等词语及其否定词或类似术语旨在识别这些前瞻性陈述。 这些前瞻性陈述是反映Granite高级管理层最佳判断的估计，并基于其对未来事件的当前预期和预测，其中许多事件超出Granite的控制范围，涉及许多风险和不确定性，可能导致实际结果与前瞻性陈述所建议的结果存在重大差异。 可能导致或促成此类差异的因素包括但不限于十大正规博彩平台年度报告中“项目1A”项下描述的风险。 风险因素。” 除法律要求外，Granite不承担因任何原因修改或更新任何前瞻性陈述的义务。 因此，请读者不要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。
十大正规博彩平台公司 CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited - In Thousands, Except Per Share Data) Three Months Ended March 31, 2009 2008 Revenue 建设 $ 317,109 $ 402,573 Material sales 29,846 51,554 Real estate 417 673 Total revenue 347,372 454,800 Cost of revenue 建设 246,969 306,846 Material sales 32,183 49,056 Real estate 207 204 Total cost of revenue 279,359 356,106 Gross profit 68,013 98,694 General and administrative expenses 53,632 60,651 Gain on sales of property and equipment 2,521 401 Operating income 16,902 38,444 Other income (expense) Interest income 2,061 6,055 Interest expense (3,488 ) (4,510 ) Equity in loss of affiliates (444 ) (707 ) Other income, net 3,785 8,463 Total other income 1,914 9,301 Income before provision for income taxes 18,816 47,745 Provision for income taxes 4,829 12,127 Net income 13,987 35,618 Amount attributable to noncontrolling interest (5,067 ) (22,495 ) Net income attributable to Granite 建设 Inc. $ 8,920 $ 13,123 Net income per share attributable to common shareholders: Basic $ 0.23 $ 0.34 Diluted $ 0.23 $ 0.34 Weighted average shares of common stock: Basic 37,476 38,139 Diluted 37,600 38,172
十大博彩正规平台公司 CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited - In thousands, except share and per share data) March 31, December 31, March 31, 2009 2008 2008 Assets Current assets Cash and cash $ 390,483 $ 460,843 $ 266,427 equivalents Short-term marketable 22,276 38,320 79,997 securities Accounts receivable, 233,867 314,733 320,526 net Costs and estimated earnings in excess 54,400 13,295 74,279 of billings Inventories, 59,254 55,223 61,432 net Real estate held for development and 79,409 75,089 54,736 sale Deferred 43,484 43,637 44,728 income taxes Equity in construction 44,423 44,681 39,893 joint ventures Other current 52,488 56,742 62,559 assets Total current 980,084 1,102,563 1,004,577 assets Property and 526,734 517,678 518,900 equipment, net Long-term marketable 46,387 21,239 37,303 securities Investment in 21,768 19,996 25,713 affiliates Other noncurrent 79,534 81,979 72,149 assets Total assets $ 1,654,507 $ 1,743,455 $ 1,658,642 Liabilities and Equity Current liabilities Current maturities of long-term debt $ 34,218 $ 39,692 $ 34,071 Accounts 141,783 174,626 195,651 payable Billings in excess of costs and 190,540 227,364 218,935 estimated earnings Accrued expenses and other current 159,323 184,939 166,774 liabilities Total current 525,864 626,621 615,431 liabilities Long-term debt 251,351 250,687 257,442 Other long-term 45,836 43,604 45,479 liabilities Deferred 17,917 18,261 18,228 income taxes 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 2009 and in 2008; issued and outstanding 38,679,123 shares as of二零零九年三月三十一日 , 38,266,791 shares as of December 31, 2008 and 38,274,800 387 383 383 shares as of2008年3月31日 Additional paid-in 88,158 85,035 79,534 capital Retained 686,129 682,237 587,881 earnings Accumulated other comprehensive loss - (146 ) (693 ) Total Granite 建设 Inc. 774,674 767,509 667,105 shareholders' equity Noncontrolling 38,865 36,773 54,957 interest Total equity 813,539 804,282 722,062 Total liabilities and $ 1,654,507 $ 1,743,455 $ 1,658,642 equity March 31, December 31, March 31, Financial 2009 2008 2008 Position Working $ 454,220 $ 475,942 $ 389,146 capital Current ratio 1.86 1.76 1.63 Debt to Granite 建设 Inc. 0.27 0.27 0.30 shareholders' equity capitalization Total liabilities to Granite 建设 Inc. shareholders' equity 1.09 1.22 1.40 ratio
十大博彩正规平台公司 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited - In Thousands) Three Months Ended March 31, 2009 2008 Operating activities Net income $ 13,987 $ 35,618 Adjustments to reconcile net income to net cash used in operating activities: Depreciation, depletion and amortization 20,623 21,172 Gain on sales of property and equipment (2,521 ) (401 ) Change in deferred income taxes (283 ) 419 Stock-based compensation 2,777 1,609 Excess tax benefit on stock-based (413 ) (746 ) compensation Equity in loss of affiliates 444 707 Acquisition of noncontrolling interest - (16,616 ) Changes in assets and liabilities, net of the effects (49,009 ) (65,307 ) of acquisitions Net cash used in operating (14,395 ) (23,545 ) activities Investing activities Purchases of marketable securities (29,258 ) (9,179 ) Maturities of marketable securities 15,610 21,500 Release of funds for acquisition of - 28,332 noncontrolling interest Additions to property and equipment (29,601 ) (30,735 ) Proceeds from sales of property and 3,741 3,517 equipment Acquisition of businesses - (14,022 ) Contributions to affiliates (2,219 ) - Other investing activities 148 676 Net cash (used in) provided by (41,579 ) 89 investing activities Financing activities Proceeds from long-term debt 2,435 1,083 Long-term debt principal payments (7,282 ) (6,683 ) Cash dividends paid (4,975 ) (5,129 ) Purchase of common stock (2,017 ) (45,468 ) Contributions from noncontrolling 157 4,640 partners Distributions to noncontrolling partners (3,153 ) (24 ) Acquisition of noncontrolling interest - (11,716 ) Excess tax benefit on stock-based 413 746 compensation Other financing 36 - Net cash used in (14,386 ) (62,551 ) financing activities Decrease in cash and cash equivalents (70,360 ) (86,007 ) Cash and cash equivalents at beginning of 460,843 352,434 period Cash and cash equivalents at end of period $ 390,483 $ 266,427
十大博彩正规平台公司 Business Segment Information (Unaudited - In Thousands) Three Months Ended 十大正规博彩平台西 十大博彩正规平台东 Granite Land March 31, 公司 2009 Revenue $ 197,049 $ 149,906 $ 417 Gross $ 32,939 $ 34,864 $ 210 profit Gross profit as a 16.7% 23.3% 50.4% percent of revenue Operating $ 6,720 $ 28,251 $ (698) income (loss) Operating income (loss) as a 3.4% 18.8% -167.4% percent of revenue 2008 Revenue $ 240,002 $ 214,125 $ 673 Gross $ 39,629 $ 58,596 $ 469 profit Gross profit as a 16.5% 27.4% 69.7% percent of revenue Operating $ 4,763 $ 52,136 $ (450) income (loss) Operating income (loss) as a 2.0% 24.3% -66.9% percent of revenue十大正规博彩平台公司 Contract Backlog (Unaudited - In Thousands) Contract Backlog by 二零零九年三月三十一日 2008年3月31日 Division Granite $ 743,219 47.3 % $ 868,530 44.7 % West Granite 826,855 52.7 % 1,074,659 55.3 % East Total $ 1,570,074 100.0 % $ 1,943,189 100.0 %
来源: 十大博彩正规平台公司 