十大博彩正规平台公司报告2007年第一季度业绩
WATSONVILLE, Calif.,
总裁兼首席执行官William G. Dorey说：“各分行今年开了个好头。 有利可图的积压，本季度温和的天气以及我们团队的出色执行推动了本季度分支机构的业绩。 相反，我们的重型建筑部门（“HCD”）的结果反映了这样一个事实，即在我们能够充分认识到我们最近的组织重组以及我们积压的更新，更有利可图的工作的好处之前，我们有表现不佳的项目要完成。”
公司经营成果总额
The operating loss for the quarter was
General and Administrative expenses for the quarter totaled
各部门经营业绩
Branch Division operating income for the quarter increased slightly to
HCD operating loss for the quarter was
前景
“我们的分支机构在年初取得了优异的成绩，我们对今年的前景仍然乐观。 虽然现在是施工季节，要预测分公司将如何与去年的财务结果相比还为时过早，但我们乐观地认为，2007年将是我们在西部业务的又一个出色的一年。 我们大多数市场的公共融资渠道都非常健康。 正如预期的那样，由于住宅市场的放缓，我们的一些市场开始看到公共部门工作的竞争加剧。 在这种类型的市场中，我们的策略是在我们的投标策略上保持耐心和谨慎，这样如果我们认为今年晚些时候会有更好的机会，我们就不会把我们的能力投入到利润率较低的工作中。 In addition, we are excited about the opportunities ahead, particularly in
"Our 2007 outlook for our HCD business remains guarded, particularly in light of the losses we incurred in the first quarter, as well as our ongoing negotiations with the
后续事件
In a press release dated
The results for the quarter ended
财务业绩
本公告中的财务信息反映了公司在完成季度审查后的初步结果。 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,
对十大正规博彩平台
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 www.zkyk.net.
GRANITE CONSTRUCTION INCORPORATED
COMPARATIVE FINANCIAL SUMMARY
(Unaudited - In Thousands, Except Per Share Data)
Three Months Ended
March 31, Variance
Operations 2007 2006 Amount Percent
Revenue
建设 $421,549 $434,338 $(12,789) (2.9)
Material sales $66,111 $61,630 $4,481 7.3
Total revenue $487,660 $495,968 $(8,308) (1.7)
Cost of revenue
建设 $385,516 $403,960 $18,444 4.6
Material sales $54,108 $51,773 $(2,335) (4.5)
Total cost of
revenue $439,624 $455,733 $16,109 3.5
Gross profit $48,036 $40,235 $7,801 19.4
Gross profit as a
percent of revenue 9.9% 8.1% 1.8% --
General and
administrative
expenses $54,337 $48,256 $(6,081) (12.6)
G&A expenses as a
percent of revenue 11.1% 9.7% (1.4%) --
Gain on sales of
property and equipment $713 $4,238 $(3,525) (83.2)
Other income (expense)
Interest income $6,843 $4,733 $2,110 44.6
Interest expense $(1,086) $(1,395) $309 22.2
Equity in income
(loss) of
affiliates $351 $(77) $428 ****
Other, net $(233) $(606) $373 61.6
Total other income $5,875 $2,655 $3,220 ****
Income (loss) before
provision for
(benefit from)
income taxes and
minority interest $287 $(1,128) $1,415 ****
Minority interest $(2,447) $(1,067) $(1,380) ****
Net loss $(2,249) $(1,422) $(827) (58.2)
Net loss per share:
Basic $(0.05) $(0.03) $(0.02) (66.7)
Diluted $(0.05) $(0.03) $(0.02) (66.7)
Weighted average shares
of common stock:
Basic 40,992 40,739 253 0.6
Diluted 40,992 40,739 253 0.6
**** Represents percentages greater than 100%
GRANITE CONSTRUCTION INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited - In thousands, except share and per share data)
March 31, December 31,
2007 2006
Assets
Current assets
Cash and cash equivalents $207,647 $204,893
Short-term marketable securities 93,313 141,037
Accounts receivable, net 413,267 492,229
Costs and estimated earnings in
excess of billings 25,666 15,797
Inventories 47,337 41,529
Real estate held for sale 58,192 55,888
Deferred income taxes 36,552 36,776
Equity in construction joint ventures 37,422 31,912
Other current assets 65,930 63,144
Total current assets 985,326 1,083,205
Property and equipment, net 444,570 429,966
Long-term marketable securities 49,882 48,948
Investment in affiliates 23,585 21,471
Other assets 43,341 49,248
Total assets $1,546,704 $1,632,838
Liabilities and Shareholders' Equity
Current liabilities
Current maturities of long-term debt $29,962 $28,660
Accounts payable 214,395 257,612
比林斯 in excess of costs and
estimated earnings 270,641 287,843
Accrued expenses and other
current liabilities 170,042 189,328
Total current liabilities 685,040 763,443
Long-term debt 70,530 78,576
Other long-term liabilities 64,315 58,419
Deferred income taxes 19,798 22,324
Minority interest in consolidated subsidiaries 18,227 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 41,942,130 shares in
2007 and 41,833,559 shares in 2006 420 418
Additional paid-in capital 79,596 78,620
Retained earnings 605,797 612,875
Accumulated other comprehensive income 2,981 2,631
Total shareholders' equity 688,794 694,544
Total liabilities and
shareholders' equity $1,546,704 $1,632,838
March 31, December 31,
Financial Position 2007 2006
Working capital $300,286 $319,762
Current ratio 1.44 1.42
Debt to total capitalization 0.13 0.13
Total liabilities to equity ratio 1.25 1.35
GRANITE CONSTRUCTION INCORPORATED
REVENUE AND BACKLOG ANALYSIS
(Unaudited - Dollars In Thousands)
BY MARKET SECTOR
Revenue
Three Months Ended March 31, Variance
2007 2006 Amount Percent
Public Sector $338,829 $352,961 $(14,132) (4.0)
Private Sector 77,803 81,347 (3,544) (4.4)
总 sales 66,111 61,630 4,481 7.3
Other 4,917 30 4,887 ****
$487,660 $495,968 $(8,308) (1.7)
Backlog
March 31, Variance
2007 2006 Amount Percent
Public Sector $2,311,722 $2,219,442 $92,280 4.2
Private Sector 186,748 327,293 (140,545) (42.9)
$2,498,470 $2,546,735 $(48,265) (1.9)
BY GEOGRAPHIC AREA
Revenue
Three Months Ended March 31, Variance
2007 2006 Amount Percent
加州 $191,107 $212,871 $(21,764) (10.2)
West (Excl. CA) 124,274 103,928 20,346 19.6
Midwest 18,289 12,910 5,379 41.7
Northeast 46,556 69,442 (22,886) (33.0)
Southeast 70,965 47,730 23,235 48.7
South 36,469 49,087 (12,618) (25.7)
$487,660 $495,968 $(8,308) (1.7)
Backlog
March 31, Variance
2007 2006 Amount Percent
加州 $506,628 $671,689 $(165,061) (24.6)
West (Excl. CA) 497,223 629,501 (132,278) (21.0)
Midwest 425,836 65,111 360,725 ****
Northeast 683,323 428,112 255,211 59.6
Southeast 204,324 452,019 (247,695) (54.8)
South 181,136 300,303 (119,167) (39.7)
$2,498,470 $2,546,735 $(48,265) (1.9)
**** Represents percentages greater than 100%
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